Discuss Acams CCAS Exam Topic 2 Question 17

What is the most pertinent item for a cryptoasset money services business to include in a suspicious activity report?

AAll types of cryptocurrencies purchased by the subject, including aggregate total of each and fiat currency equivalent

BThe names of every owner of the destination wallet address(es) to which the subject sent transactions during the review period

CThe aggregate total amount of fiat currency used by the subject to purchase cryptocurrency

DThe subject's account onboarding information not otherwise included in the counter-party information section

Suggested Answer: A

SARs should include detailed transactional information to support investigations, including all types and aggregate amounts of cryptocurrencies purchased, along with fiat currency equivalents. This information provides a clear picture of the subject's activity and financial scale.

Owner names of destination wallets (B) may not be available; onboarding info (D) is supplementary, and fiat aggregate totals (C) alone are insufficient.

FATF and DFSA guidance recommend comprehensive transactional data inclusion in SARs to facilitate law enforcement.

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12 comments · newest first

Val 2 months ago

Option C makes sense too. It shows the total fiat used, which is important.

Callie 2 months ago

I prefer option B. Identifying wallet owners is key for tracing.

Gertude 3 months ago

I think option A is crucial. Knowing all cryptocurrencies helps track patterns.

Aaron 3 months ago

D seems a bit off, why would onboarding info matter in a suspicious activity report?

Asha 3 months ago

C makes sense too, knowing the fiat amount helps understand the scale of transactions.

Brynn 3 months ago

Wait, are we really expected to know every owner of a wallet? Seems impossible!

Glen 3 months ago

I disagree, B is more important to track where the funds are going.

Vonda 4 months ago

Gotta go with A, all the crypto types and totals are crucial!

Melodie 4 months ago

I recall discussing onboarding info in class, but I'm not convinced it’s as critical as the transaction details in options A or C. Maybe D is less pertinent?

Selene 4 months ago

I feel like option C could be important, but it seems less comprehensive compared to A. We need to show the full picture of transactions, right?

Solange 4 months ago

I'm not entirely sure, but I remember a practice question that emphasized the importance of tracking the flow of funds, so maybe option B could be significant too?

Beckie 4 months ago

I think option A might be the most relevant since it covers all the cryptocurrencies involved and their fiat equivalents, which could show a pattern of suspicious activity.

Acams CCAS Exam - Topic 2 Question 17 Discussion