Exam CAMS Topic 1 Question 233 Discussion

Actual exam question for ACAMS's CAMS exam
Question #: 233
Topic #: 1

One key aspect of the Office of Foreign Assets Control's extraterritorial reach includes the blocking of certain non-United States initiated transactions for or through the United States (U.S.) for benefit of a restricted person or entity.
Under which three circumstances are U.S. banks required to block transactions? (Choose three.)

A. The transactions are to, or go through, a blocked entity B. Those that are by, or on behalf of, a blocked individual or entity C. Those that are by or on behalf of a blocked individual and a licensed entity D. Those that are in connection with a transaction in which a blocked individual or entity has an interest E. Those that are in connection with a transaction in which a blocked individual or entity has no interest

Suggested Answer: A,B,D Vote an answer

Explanation
U.S. law requires that assets and accounts of an OFAC-specified country, entity, or individual be blocked when such property is located in the United States, is held by U.S. individuals or entities, or comes into the possession or control of U.S. individuals or entities.
For example, if a funds transfer comes from offshore and is being routed through a U.S. bank to an offshore bank, and there is an OFAC-designated party to the transaction, it must be blocked. The definition of assets and property is broad and is specifically defined within each sanction program.
Assets and property includes anything of direct, indirect, present, future, or contingent value (including all types of bank transactions). Banks must block transactions that:
* Are by or on behalf of a blocked individual or entity;
* Are to or go through a blocked entity; or
* Are in connection with a transaction in which a blocked individual or entity has an interest.

by Noah at Nov 20, 2023, 11:21 PM

Limited Time Offer

15%

Off

Get Premium CAMS Questions as Interactive Self Test Engine or PDF

Comments

Here are all the actual test exam dumps for IT exams. Most people prepare for the actual exams with our test dumps to pass their exams. So it's critical to choose and actual test pdf to succeed.

RECENT DISCUSSIONS

Useful Links

Contact Us

Our Working Time: ( GMT 0:00-15:00 )
From Monday to Saturday

Support: Contact now

If you have any question please leave me your email address, we will reply and send email to you in 12 hours.

Disclaimer:
Actual4test doesn't offer Real SANS and GIAC Exam Questions.
Oracle and Java are registered trademarks of Oracle and/or its affiliates
Actual4test material do not contain actual actual Oracle Exam Questions or material.
Actual4test doesn't offer Real Microsoft Exam Questions.
Microsoft®, Azure®, Windows®, Windows Vista®, and the Windows logo are registered trademarks of Microsoft Corporation
Actual4test Materials do not contain actual questions and answers from Cisco's Certification Exams. The brand Cisco is a registered trademark of CISCO, Inc
CFA Institute does not endorse, promote or warrant the accuracy or quality of these questions. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Actual4test does not offer exam dumps or questions from actual exams. We offer learning material and practice tests created by subject matter experts to assist and help learners prepare for those exams. All certification brands used on the website are owned by the respective brand owners. Actual4test does not own or claim any ownership on any of the brands.