ACFCS Certified Financial Crime Specialist CFCS Braindumps

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ACFCS CFCS Exam Syllabus Topics:

ACFCS Financial Crime Specialist Sample Questions:

1. Mr. Smith registered a business and opened a bank account under the name of ABC Consulting Services. Mr.
Smith and his wife were signatories on the account and the contact address for the account was that of his home in Palm Beach ABC Consulting Services had no website and Mr. Smith did not provide any actual consulting services.
Which term describes ABC Consulting Services?

A) A front company
B) A shell company
C) A shelf company
D) A nominee

2. During a routine audit, a financial institution discovers that its sanctions screening software has not been updated to include the latest changes to the OFAC SDN list. What is the most appropriate action for the institution to take?

A) Conduct manual screening of transactions against the latest version of the SDN list until the software is updated.
B) Proceed with transactions and update the screening software during the next scheduled maintenance.
C) Notify OFAC of the software issue and seek guidance on interim measures.
D) Immediately suspend all transactions until the screening software is updated.

3. Recently your database of customer records was compromised and hundreds of thousands of customer's personal data was stolen Based on the feedback from your customers you have surmised that the following occurred.
* Using the stolen customer information a personalized email was sent to all of the customers Irom the criminals with a significant amount of personal information in them to appear legitimate directing them to a fake website mimicking yours
* That fake website captured logins and passwords from customers for later use
* The criminals then used the logins and passwords to wire funds from those accounts to offshore accounts that they controlled Which type of attack is this?

A) Spear phishing
B) Man-in-the-middle
C) Login capture
D) Key logging

4. 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?

A) Extortion
B) Solicitation
C) Duress
D) Bribery

5. You were recently hired as a new sanction's analyst for a large international bank in your introductory training you were told the bank generally prefers to avoid doing business with jurisdictions on U.S. sanctions lists, but has supported transactions under "specific' and "general licenses".
In your day-to-day job you find a certain business line seems to be conducting transactions with companies in sanctioned countries and these transactions are flagged by your sanction's filters more than others When you researched the companies you found the transactions were not covered under a general or specific license When you raised this issue with the division's business line manager, he said it "was a mistake".
A week later, you saw a transaction to a company with nearly the same name except shortened and slightly altered. The transaction amount is the same but there was no mention of the sanctioned jurisdiction. The business line manager assured you it was a different company m non-sanctioned country Which is the MOST appropriate next step for you to take?

A) Update your sanctions filter parameters lo note that the new company with the similar name has been internally white-listed
B) inform your superiors that some business lines may be stripping transaction details and dealing with entities or regions on U.S. sanctions
C) inform your superiors that due to conflicting information both companies should be the subject of a Suspicious Activity Report (SAR)
D) Close the case because the original alerts were false positives The country is not on a U.S. sanctions list

Solutions: