Acams Exam CAMS-FCI Topic 1 Question 5 Discussion

Actual exam question for Acams's CAMS-FCI exam

Question #: 5
Topic #: 1

A country that does not have strong predicate offenses and is lax in prosecuting AML cases could suffer which social/economic consequence?

AUS sanctions

BIncreased organized crime and corruption

CReputation risk for the port

DLoss of tax revenue

Show Suggested Answer

Suggested Answer: B

A country that does not have strong predicate offenses and is lax in prosecuting AML cases could suffer increased organized crime and corruption as a social/economic consequence. 'Weaknesses in the AML/CFT regime can lead to a range of economic and social consequences, including...increased crime and corruption.' (CAMS Manual, 6th Edition, page 32)

by Alverta at Oct 24, 2024, 06:49 PM

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Helene

14 days ago

B and D. Increased organized crime and corruption, plus loss of tax revenue. It's a double whammy of bad news for the country. Might as well change their national anthem to Hakuna Matata and call it a day.

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Felicidad

26 days ago

D. Loss of tax revenue. Think about it - all that dirty money that's not getting seized and taxed? The government's going to be hurting for cash. They might as well just start a GoFundMe page at this point.

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Xuan

3 days ago

A: US sanctions

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Fletcher

1 months ago

I'm going with C. Reputation risk for the port is a huge deal. No one's going to want to do business with a country that's seen as a haven for money laundering. Might as well put up a big neon sign saying Tax Evasion Welcome Here!

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Justine

9 days ago

D: Yeah, but C is a more immediate problem. Reputation risk for the port can deter foreign investment and trade.

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Ligia

11 days ago

C: True, but A is a serious consequence as well. US sanctions can isolate a country from the international community.

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Kirk

14 days ago

B: I agree, but D is also a major concern. Losing tax revenue can have a huge impact on a country's economy.

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Moon

25 days ago

A: I think B is the biggest issue. Organized crime and corruption can really destabilize a country.

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Cassi

2 months ago

I agree with Precious. Without strong predicate offenses and prosecution of AML cases, organized crime and corruption can thrive.

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Precious

2 months ago

B) Increased organized crime and corruption

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Erick

2 months ago

Option B is definitely the correct answer. Lack of AML prosecution will only embolden organized crime and corruption. The country is basically an open invitation for the mafia to come in and take over.

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