Acams Exam CAMS Topic 4 Question 83 Discussion

Actual exam question for Acams's CAMS exam

Question #: 83
Topic #: 4

[All CAMS Questions]

A bank sells reloadable open-loop prepaid cards to both customers and non-customers.

What is a red flag associated with these cards that may indicate money laundering?

AA bank customer historically purchases several prepaid cards near year-end.

BA non-bank customer regularly loads large amounts of cash onto several prepaid cards.

CA non-bank customer consistently uses the bank to obtain cash advances using a prepaid card.

DA bank customer routinely purchases five prepaid cards in small even-dollar amounts on a monthly basis.

Show Suggested Answer

Suggested Answer: A, C, F

by Vallie at Sep 08, 2024, 12:11 PM

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Yolando

12 days ago

Option B definitely stands out as a red flag. Regularly loading large amounts of cash onto multiple prepaid cards is a classic money laundering tactic. Banks need to be vigilant about this kind of suspicious activity.

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Chau

20 days ago

I'm not sure, but option A also seems like it could be a red flag.

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Sean

22 days ago

I agree with Candida, loading large amounts of cash onto prepaid cards seems suspicious.

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Candida

25 days ago

I think the red flag is option B.

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