Public-private partnerships (PPPs) that involve the sharing of information between law enforcement authorities, Financial Intelligence Units (FIUs), and the private sector are established to: (Select Two.)
Correct Answer: A,B
Public-Private Partnerships (PPPs)are collaborative initiatives involvinglaw enforcement, FIUs, and financial institutions. Their objective is to improve theefficiency and effectivenessof the fight against money laundering, terrorist financing, and other financial crimes bysharing both operational and strategic intelligence. Option A - Exchange operational information between public authorities and obliged entities: PPPs often facilitate real-time or near-real-time information sharing that supportsspecific investigations and the detection of suspicious activity, helping financial institutions respond quickly and accurately to ongoing threats. Option B - Exchange strategic information between FIUs and obliged entities: Strategic-level intelligence sharing helps financial institutionsunderstand typologies, risk trends, and evolving criminal methods, thereby strengthening their risk assessments and transaction monitoring frameworks. Option Cis incorrect: Strategic information exchange between private institutions is limited and heavily regulated. Option Dis incorrect: FATF does not collect or manage databases of suspicious activity reports; it sets standards and reviews national frameworks. Reference: ACAMS CAMS Study Guide - 6th Edition, Chapter:Public-Private Partnerships and Information Sharing- Section:Purpose and Function of PPPs in AML/CFT
Question 47
A financial institution is designing an enterprise-wide risk assessment (EWRA). According to the guidance issued by the Wolfsberg Group regarding a risk-based approach to identifying and managing money laundering risks, an effective approach should:
Correct Answer: C
Question 48
Which suspicious activity may be the strongest indicator of money laundering through a casino?
Correct Answer: C
Question 49
Which techniques are most commonly used in a rules-based approach to transaction monitoring for detecting suspicious activities? (Choose two.)
Correct Answer: A,E
A rules-based approach to transaction monitoring relies on predefined rules that flag specific patterns and on setting thresholds that trigger automated alerts when exceeded. These techniques are fundamental to identifying potentially suspicious activities in a structured, deterministic way.
Question 50
Which of the following serves as an example of a successful public-private partnership (PPP)?
Correct Answer: B
The AUSTRAC Fintel Alliance is a successful example of a public-private partnership (PPP). It brings together government agencies and private sector organizations to collaborate on detecting, preventing, and disrupting financial crime through shared intelligence, technology, and expertise.
