Cams Exam Quesiton No 29

Question No 29:

Which of the following best describes the "alternative remittance system"?

A. The transfer of values between countries, outside of the legitimate banking system.
B. A non-electronic data remittance system used in several NCCT countries to report suspicious activities.
C. Old-fashioned reporting requirements commonly used in non-cooperative countries and territories.
D. The transfer of funds between two or more financial institutions using concentration accounts.

Answer: A