Acams Exam CAMS Topic 2 Question 81 Discussion

Actual exam question for Acams's CAMS exam

Question #: 81
Topic #: 2

[All CAMS Questions]

During the course of work on behalf of a client, a lawyer participated in the movement of money. If the lawyer suspects an act of money laundering, which of the following should the lawyer do according to European Union Money Laundering Directives?

AFollow bank secrecy laws.

BReport the facts to the competent authorities.

CInform the client of the intent to terminate services.

DAdhere to business confidentiality laws.

Show Suggested Answer

Suggested Answer: C

by Louis at Aug 04, 2024, 08:06 AM

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Derick

2 months ago

Option B all the way! I mean, who wants to be the next Pablo Escobar's lawyer, am I right? Reporting suspicious activity is the only way to stay on the right side of the law. Unless, of course, you're into that whole 'money laundering' thing. In that case, I've got a great therapist to recommend!

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Miesha

14 days ago

C: Absolutely, reporting to the authorities is the right thing to do in such situations.

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Hui

1 months ago

B: I agree, it's important to follow the law and report any suspicious behavior.

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Wava

1 months ago

A: Definitely! Reporting suspicious activity is crucial to prevent money laundering.

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Shawnee

2 months ago

Ah, the age-old dilemma of lawyer-client confidentiality versus legal obligations. I'd say B is the way to go, but I'd also have a really good lawyer on speed dial just in case the client gets, you know, 'upset'.

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Blair

2 months ago

I'm gonna have to go with B on this one. If I suspect money laundering, I have a duty to report it. Although, I do wonder if the client would be cool with that... Guess we'll find out!

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Makeda

2 months ago

I'd be tempted to go with D and maintain business confidentiality, but that would be a big risk. Better to just fess up and let the authorities handle it, even if it means losing the client.

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Denae

6 days ago

I agree, it's important to report suspicious activities to the authorities.

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Laila

20 days ago

C) Inform the client of the intent to terminate services.

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German

1 months ago

B) Report the facts to the competent authorities.

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Rebbeca

2 months ago

A) Follow bank secrecy laws.

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Rosenda

2 months ago

Hmm, I think the correct answer is B. Reporting the suspicious activity to the authorities seems like the responsible thing to do, even if it goes against the client's wishes.

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