Acams Exam CAMS Topic 2 Question 85 Discussion

Actual exam question for Acams's CAMS exam

Question #: 85
Topic #: 2

[All CAMS Questions]

Which red flag should a compliance officer prioritize first for investigation?

AA loan is paid off in full with cash after the sale of the vehicle that was used as collateral for the loan.

BSeveral cross-border transfers are received and immediately wired to another beneficiary.

CA customer has 20 monthly transactions that are repetitive but less than $500 USD per transaction.

DA convenience store cashes government checks for its customers in amounts less than $1,000 USD per day.

Show Suggested Answer

Suggested Answer: C

by Fausto at Sep 18, 2024, 02:36 AM

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Xuan

2 months ago

D) A convenience store cashing government checks for its customers in amounts less than $1,000 USD per day? That's a classic case of structuring, and it needs to be looked into right away.

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Vi

25 days ago

C) A customer has 20 monthly transactions that are repetitive but less than $500 USD per transaction.

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Erick

26 days ago

B) Several cross-border transfers are received and immediately wired to another beneficiary.

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Selma

1 months ago

A) A loan is paid off in full with cash after the sale of the vehicle that was used as collateral for the loan.

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Chi

2 months ago

A) A loan paid off in full with cash after the sale of the collateral vehicle? Sounds fishy to me. I'd keep a close eye on that one if I were the compliance officer.

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Georgiann

1 months ago

C) Repetitive transactions under $500 each month could also be a cause for concern.

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Ashlyn

1 months ago

B) I think the cross-border transfers being immediately wired to another beneficiary is a major red flag.

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Denae

2 months ago

A) I agree, that does seem suspicious. It's definitely worth investigating further.

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Thad

2 months ago

I think option D should be prioritized, as cashing government checks in small amounts could be a red flag for illegal activity.

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Shawn

3 months ago

I agree with Destiny, because multiple cross-border transfers could indicate money laundering.

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Beckie

3 months ago

Whoa, hold on there! If I had a dollar for every time someone tried to hide their shady business through 'cross-border transfers', I'd be a rich man. This one's a no-brainer, folks.

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Wilda

1 months ago

D) A convenience store cashes government checks for its customers in amounts less than $1,000 USD per day.

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Myra

1 months ago

C) A customer has 20 monthly transactions that are repetitive but less than $500 USD per transaction.

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Chu

2 months ago

B) Several cross-border transfers are received and immediately wired to another beneficiary.

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Terina

2 months ago

A) A loan is paid off in full with cash after the sale of the vehicle that was used as collateral for the loan.

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Destiny

3 months ago

I think the compliance officer should prioritize option B.

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Alesia

3 months ago

B) Several cross-border transfers are received and immediately wired to another beneficiary. This is a classic sign of money laundering and should be investigated immediately.

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Tanesha

2 months ago

B) Several cross-border transfers are received and immediately wired to another beneficiary.

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Azalee

2 months ago

A) A loan is paid off in full with cash after the sale of the vehicle that was used as collateral for the loan.

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