Free ACAMS CKYCA Exam Dumps Questions & Answers

If you need to reach out to the client for more information and/or verification regarding the Enhanced Due Diligence (EDD) Process. should the KYC employee reach out directly to the client themselves and not the a relationship manager or equivalent.

• A.  FALSE.
• B.  TRUE.

If a customer is a PEP and they are using private wealth services from banks, and also appear to have obtained a fair amount of wealth is this a red flag?

• A.  No.
• B.  Depends on the exact circumstances.
• C.  Yes.

What is the Second Line of Defense? (SLOD)

• A.  The _______ line of defense is the compliance and internal control functions. That includes the chief money laundering reporting officer, or MLRO, in charge of managing and monitoring AML and CFT activities.
• B.  The _______ line of defense is also known as the front line, these customer-facing employees are best-equipped to get the information you need for your customer due diligence. Can include Operations, risk, and control teams.
• C.  The ________ line of defense is internal audit. They perform an independent review of the controls applied by the lines of defense.

What industries are often exploited by criminals (SELECT 3)

• A.  Broker Dealers.
• B.  Casinos.
• C.  Dealers in high value goods.
• D.  Charities Non Profits.
• E.  Insurance.

What is the advantage of Bearer Shares? (SELECT 3)

• A.  They can be held under agreement by professionals as another layer of secrecy.
• B.  They can't be traced to a central registry because whoever carries them is the purported owner.
• C.  They are a more affordable way of setting up a business in certain countries in the Caribbean.
• D.  Tax haven countries and their strict secrecy laws can further conceal the true ownership.
• E.  They are an excellent, quick effective way to set up a business in Delaware, Nevada, and Wyoming