On-line financial technologies are susceptible to money laundering risk because
A.
Viruses significantly damage communications and commerce.
B.
The risk of identity theft is greatly increased.
C.
The identity of the people who conduct transactions may be unknown.
D.
Baring staff are familiar with how this technology can be abused.
The Answer Is:
C
This question includes an explanation.
Explanation:
According to the Anti-Money Laundering Specialist (the 6th edition) resources, one of the challenges of online financial technologies is the difficulty of verifying the identity and legitimacy of the customers and counterparties. This creates opportunities for money launderers and other criminals to exploit the anonymity and speed of online transactions to move and conceal illicit funds. The other options are not directly related to the money laundering risk posed by online financial technologies.
ACAMS Study Guide for the Certified Anti-Money Laundering Specialist (the 6th edition), Chapter 5: Risk-Based Approach, page 133.
ACAMS Study Guide for the Certified Anti-Money Laundering Specialist (the 6th edition), Chapter 7: Money Laundering Risks and Methods, page 203.
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