ACAMS AML Certifications CAMS-FCI Question # 30 Topic 4 Discussion
CAMS-FCI Exam Topic 4 Question 30 Discussion:
Question #: 30
Topic #: 4
The training department is conducting awareness training for unusual customer identification scenarios. Which two indicators should be included? (Select Two.)
A.
The customer opens the account in the name of a family member who begins making large deposits.
B.
The customer's name and home address cannot be verified
C.
The customer's internet protocol address does not match the identifying information provided during online registration.
D.
The customer requests payment of proceeds to an unrelated third party.
E.
The customer frequently exchanges small bills for large bills.
This information can be found in the Certified Anti-Money Laundering Specialist (CAMS) study guide, 6th edition, under the section on Unusual Customer Identification Scenarios. The guide explains that two indicators that should be included in awareness training for unusual customer identification scenarios are:
A. The customer opens the account in the name of a family member who begins making large deposits.
This is an indicator of potential structuring, where a customer may be attempting to avoid triggering reporting thresholds by depositing funds in smaller amounts over time. It is important for staff to be aware of this scenario and to monitor accounts for potential suspicious activity.
B. The customer's name and home address cannot be verified.
This is an indicator of potential identity theft or other fraudulent activity. If a customer's identifying information cannot be verified, it is important for staff to conduct additional due diligence to ensure that the customer is legitimate and that the account is not being used for illicit purposes.
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