Demo Acams CKYCA Exam Questions

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Question 1

Which action should be considered a possible red flag, indicating to a bank that the activity might warrant further investigation?

A

Making multiple cash deposits just under the reporting threshold

B

Adding a new beneficial owner after the establishment of the business relationship

C

Opening a new account without a local telephone number or utility bill

D

Sending large amounts of money to family in their home country with known sources of income

Correct Answer: A

Explanation:

Structuring transactions by making multiple cash deposits just under the reporting threshold is a common method to evade detection and reporting requirements, making it a strong red flag for potential money laundering.

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