Pass the ACFCS Certified Financial Crime Specialist CFCS Questions and answers with ExamsMirror

An employee of Company A is injured in a car accident and rushed to a government-owned hospital in Country X. Prior to admitting the patient the head doctor insists that is it customary for foreigners to pay the hospital a generous donation" and insinuates that the patient will not be admitted without the payment.

The request is an example of which offense?

You are part of a law enforcement learn reviewing remittances from global money service businesses (MSBs) over a several year period including a time of severe economic recession During this time period there was a regulatory change that drastically lowered the transaction amount al which ihe MSBs were required lo record identity documentation (e.g., driver's license passport) (or any wire transfers crossing international boundaries.

Which result suggests criminal actors have previously been using the system to transfer funds and avoid the reporting requirement?

A customer wishes to open a personal account at Bank A with a cashier's check A representative at Bank A has the customer fill out a questionnaire including questions about the source of wealth as well as the primary purpose of the account.

To perform appropriate due diligence which three activities should Bank A perform? Choose2answers

You are an investigator at a small bank Your transaction monitoring system alerts you to unusual activity happening in a business account for a consulting firm ABC Consulting.

The account activity consists of incoming wires from a personal account at another institution there are three to four incoming wires each week from one individual. The next day an outgoing check would be issued to the same person for a slightly larger amount with the memo "Wire reimbursement + fee " Web searches indicate that this person is employed by your customer ABC Consulting Additional activity consists of small cash deposits.

Which are Ihe red flags in this scenario? Choose 2 answers

Phillips Importers LLC. is a shell company owned by Jon Phillips Mr. Phillips is very active in his local church He has convinced a large number of individuals from his church to invest in the Phillips Fund, which guarantees 10% returns.He lakes the money he collects and puts itina bank account for Phillips Importers LLC. He uses that money to market the Phillips Fund to new investors, print statements, pay dividends to his investors and pay some of his personal expenses.

Which types of fraud isMr.Phillips committing? Choose 2 answers

You are a compliance officer at a payment card provider You have been dealing with a number of suspected identity theft cases and are reviewing your policies and procedures to highlight red flags within customer behaviors that might be indicative of stolen identities.

Which are red flags in detecting and investigating identity theft? Choose 2 answers

During a sanctions compliance training session, an employee asks about the implications of conducting transactions with individuals or entities on the OFAC Sectoral Sanctions Identifications (SSI) list. What is the most accurate response to the employee’s inquiry?

An international construction company was bidding on a large contract to redevelop and modernize a hydroelectric power system in a central Asian country. Theprojectwas being administered by an agency in the country's federal government but federal officials directed the company to contact a number of local officials for additional details on the project and its scope The company later wins its bid for the redevelopment contract and

completes the protect.

A year later an internal auditor is conducting a routine review of past projects and notices certain irregularities in the bidding process for Ihe power system redevelopment. All of the company's major competitors had been rejected in the first round of bidding despite offering competitive pricing of the other firms considered in later rounds of bidding most were small companies and several were incorporated recently in the country where the project was taking place All of them put in bids that were higher or much lower than the company's winning bid.

The auditor is concerned that these unusual findings may indicate the company won its bid through a corruption scheme involving government officials. Which further finding BEST supports this possibility?

Ms. Johnson, the compliance officer at DEF Credit Union, is conducting a risk assessment of the credit union’s mobile banking services. Which of the following factors should Ms. Johnson consider when assessing the risks associated with mobile banking?

You are an examiner with Ihe regulatory agency in your jurisdiction that oversees money services businesses (MSBs).

You are conducting an examination of a midsize MSB with agents located domestically and in several countries. A previous examination last year found numerous weaknesses in Ihe MSB s anti-money laundering and fraud prevention programs, and you are reviewing these programs to determine if improvements have been made.

Which activity would MOST likely lead your agency to lake further regulatory action against the MSB?