CAMS Emerging Trends 3

Question 1

What is the primary AML concern with peer-to-peer (P2P) cryptocurrency exchanges compared to centralized exchanges?

Accepted Answer

P2P platforms often lack robust KYC verification of users

Answer

P2P exchanges frequently allow users to trade directly without identity verification, creating gaps in AML oversight.

Question 2

Regultech solutions in AML compliance primarily leverage which technology to reduce false positives in transaction monitoring?

Accepted Answer

Machine learning and artificial intelligence

Answer

AI/ML-based RegTech tools analyze behavioral patterns and context to distinguish suspicious activity from legitimate transactions more accurately.

Question 3

Which emerging threat involves criminals using social media platforms and influencers to recruit unwitting 'money mules'?

Accepted Answer

Money mule social engineering

Answer

Criminals post fake job offers on social media promising easy income, recruiting individuals who unknowingly transfer illicit funds through their accounts.

Question 4

How does 'layering' manifest in the context of cryptocurrency transactions?

Accepted Answer

Moving funds through multiple wallets, chains, and mixing services to obscure origin

Answer

Layering in crypto involves chain-hopping, using privacy coins, and mixers to create complex transaction trails that are difficult to trace.

Question 5

The concept of 'de-risking' by financial institutions refers to:

Accepted Answer

Terminating relationships with entire customer categories deemed high risk

Answer

De-risking occurs when banks exit entire markets or customer segments (e.g., MSBs, correspondent banks) rather than managing individual customer risks.

CAMS - Certified Anti-Money Laundering Specialist Certification Practice Test

CAMS - Certified Anti-Money Laundering Specialist Certification Practice Test

CAMS Emerging Trends 3