Cafp exam - Study guides, Class notes & Summaries

CAFP 1 Exam Questions With Complete Solutions.

What option describes what makes pouch activity MOST vulnerable to money laundering? - correct answer They enable money launderers to structure using monetary instruments. Which option describes why U.S. dollar drafts are MOST vulnerable to money laundering? - correct answer They make it easy for the money launderer to conceal the source of funds once the illicit funds are no longer in cash form. How do bulk cash shipments occur? - correct answer Between two banks even when the recei...

What are the 3 fraud risk factors? - correct answer -Fraud Event Risk -Customer Experience -Regulatory Compliance What are the 3 fraud management levers? - correct answer -Prevention -Detection -Response What is the fastest growing crime in America? - correct answer identity theft What are the 2 main providers for wire transfers? - correct answer Fedwire & CHIPS What is the limit for the FBI "Financial Fraud Kill Chain" process? - correct answer $50,00 or more for...

CAFP Exam Questions and answers latest update

What are the 3 fraud risk factors? - correct answer -Fraud Event Risk -Customer Experience -Regulatory Compliance What are the 3 fraud management levers? - correct answer -Prevention -Detection -Response What is the fastest growing crime in America? - correct answer identity theft What are the 2 main providers for wire transfers? - correct answer Fedwire & CHIPS What is the limit for the FBI "Financial Fraud Kill Chain" process? - correct answer $50,00 or more for unauthori...

CAFP: Certified AML and Fraud Professional Exam Prep (Latest 2023/ 2024 Update) Questions and Verified Answers| 100% Correct Q: What 4 areas does FIN-2016-A005 address? Answer: -SARs for cyber enabled crimes -Including relevant IP addresses for SARs -Collaborating with fraud, BSA, and AML units with in house cyber security units to identify suspicious activity -Sharing information among other FI's to guard against and report money laundering, terrorism financing and cyber-enabled c...

CAFP,Certified AML and Fraud Professional Exam (New 2023/ 2024 Update) Questions and Verified Answers| 100% Correct| Graded A QUESTION Please give an example of how a bank failed due to criminal activity? Explain how it happened. Answer: Riggs Bank - The failures in Riggs Bank's AML controls contributed to its demise — due in large part to the manner in which Riggs Bank staff administered the accounts of, among others, Augusto Pinochet, the former President of Chile and Te...

CAFP: Certified AML and Fraud Professional Exam (Latest 2023/ 2024 Update) Questions and Verified Answers| 100% Correct| Grade A Q: Please give an example of how a bank failed due to criminal activity? Explain how it happened. Answer: Riggs Bank - The failures in Riggs Bank's AML controls contributed to its demise — due in large part to the manner in which Riggs Bank staff administered the accounts of, among others, Augusto Pinochet, the former President of Chile and Teodoro Obiang, ...

CAFP,Certified AML and Fraud Professional Exam Prep (New 2023/ 2024 Update) Questions and Verified Answers| 100% Correct QUESTION When can reverse money laundering occur? Answer: During terrorist financing QUESTION What is one of the ways illicit funds are laundered and reintroduced back into the economy? Answer: trade based money laundering QUESTION What is the Bank Secrecy Act? Answer: Regulation that started requiring reporting of CTRs ...

CAFP 1 UPDATED Actual Exam Questions and CORRECT Answers What option describes what makes pouch activity MOST vulnerable to money laundering? - CORRECT ANSWER- They enable money launderers to structure using monetary instruments. Which option describes why U.S. dollar drafts are MOST vulnerable to money laundering? - CORRECT ANSWER- They make it easy for the money launderer to conceal the source of funds once the illicit funds are no longer in cash form