Thursday, December 31, 2015

Cams Exam Quesiton No 20

Question No 20:

Which statement is true?

A.
Bust-out schemes are popular in creating large bankruptcy frauds where businesses secure increasing loans in excess of the actual value of the company or property and then run with the money, leaving the lender to foreclose and take a substantial loss.
B.
Cuckoo smurfing is a significant money laundering technique identified by the Financial Action Task Force, where a form of structuring uses nested accounts with shell banks in secrecy havens.
C.
In its revised 40 Recommendations of 2003, the FATF issued for the second time a list of "designated categories of offense" that asserts crimes for a money laundering prosecution.
D.
E-cash is not attractive to the money launderer because it cannot be completely anonymous and does not allow for large amounts to be "transported" quickly and easily.

Answer: A

Wednesday, December 23, 2015

Cams Exam Quesiton No 19

Question No 19:

Which two of the following activities are typically associated with the Black Market Peso Exchange (BMPE) money laundering system?

A.
Converting illicit drug proceeds from dollars or Euros to Colombian pesos
B.
Converting illicit drug proceeds from Colombian pesos to dollars or Euros
C.
Facilitating purchases by Colombian importers of goods manufactured in the United States or Europe through peso brokers
D.
Facilitating purchases by European or U.S. importers of goods manufactured in Colombia through peso brokers

Answer: A, C

Thursday, December 17, 2015

Cams Exam Quesiton No 18

Question No 18:

Which statement is true?

A.
Lawyers/attorneys can generally not be used to serve as formation agents to set up trusts, front companies or shell corporations.
B.
Lawyers, accountants, notaries and other similar professionals are called money services providers.
C.
Lawyers can generally not be used to act as a nominee shareholder for another person.
D.
Launderers can abuse gatekeepers by using their accounts for the placement and the layering of funds.

Answer: D

Sunday, December 13, 2015

The Association for Certified Specialists In The Anti-Laundering



The association for certified specialists in the Anti-Laundering, announces that its accreditation program will be translated into French CAMS in 2016. Then made available to all Francophone countries.

It is for her to reaffirm its commitment to offer a globally recognized qualification Lutte Anti-Laundering and vocational training adapted locally.

For the record, ACAMS is working with local trainers, selected from around the world. They prepare candidates for certification CAMS, in the context of local jurisdictions. According to this organization, "Montrealers and French chapters have played an important role in working with the association to implement a local network and a peer training, to accompany the CAMS certification in French. In addition to English, ACAMS also offers a program in Arabic, Japanese, Mandarin and Spanish, the Russian version to be launched this month. "

ACAMS exam questions chapters provide important peer network professionals with Anti-Laundering locally, which allows the sharing of knowledge and best practices, exchange of ideas and collective solving local challenges. In addition to developing existing chapters, members of the ACAMS growing numbers, set up new chapters across the continent.

The Irish chapter will be launched January 14, 2016 in Dublin and follow the Scandinavian and Polish sections that will emerge in Copenhagen and Warsaw, respectively during the first quarter 2016.

To date, ACAMS has over 32,000 members worldwide, representing an increase of 35% per year, particularly in Europe, where the number of members has increased by 25% over the last six months.

Thursday, December 10, 2015

Cams Exam Quesiton No 17

Question No 17:

Which of the following statements is true?Correspondent banking is MOST vulnerable to money laundering when the correspondent account is?

A.
Maintained for foreign financial institutions that are banks.
B.
Not used to provide services directly to third parties.
C.
Maintained for a foreign bank that does not have a physical presence in any country.
D.
Maintained for a foreign private bank that is publicly traded and is a qualified intermediary.

Answer: C

Sunday, December 6, 2015

Cyprus Branch of the Association of Certified Anti-Money Laundering Specialists


Following the launch of the Cyprus Branch of the Association of Certified Anti-Money Laundering Specialists - ACAMS, the European Institute of Management and Fianance (EIMF - European Institute of Administration and Finance), based and strategic partnership with the ACAMS, announces the launch of bid qualification CAMS® (Approved Special Anti-Money laundering) for the first time in Cyprus.

The CAMS®, ​​the merit of the Licensed Special on Anti Money Laundering, is considered as the global gold standard for certifications in the fight against money laundering and internationally recognized by financial institutions, governments and regulators. According to the survey ACAMS AML / CFT / FCP Compensation Survey 201, registered holders CAMS qualification are among the leaders in the sector and enjoy highly valued by their employers, ensuring salaries 42% higher than those of non-certified colleagues

In general it seems that there is great interest in obtaining worldwide recognized qualification CAMS® (, while the number of applications for inclusion in Cyprus Branch of the Association of ACAMS gives a clear indication that the professionals in Cyprus in combating financial crime issues are willing to invest in development of skills and knowledge. In the long term, this investment will also support the overall effort of our country for improving transparency in the banking system and to implement the structural reforms required under the terms of international lenders of Cyprus.

The EIMF is proud to have been chosen as partner of ACAMS, the largest and most recognized training provider worldwide in the fight against money laundering. The EIMF, as an institute specializing in training in-financial and professional services in Cyprus, will ensure the provision of high quality education of all ACAMS programs, whether it is education for CAMS, or continuous professional training (CPD) for already certified specialists.

Training CAMS will start in EIMF the Iannouario 2016, and the recordings will be finished at the end of December 2015. The package for the Cyprus market given a particularly attractive price and includes all materials preparation, live courses, and registration for one year in ACAMS.

Cams Latest Exam Questions

Thursday, December 3, 2015

Cams Exam Quesiton No 16

Question No 16:

International trade in goods and services can be used as either a cover for money laundering or as the laundering mechanism itself. What is MOST important for the launderer when engaging in this method? The ability:

A. To over- or under-invoice the goods.
B. To sell the exported goods for as much as possible.
C. To use goods that do not need to be declared.
D. To use high-value assets such as luxury cars or boats.

Answer: A