Exam CAMS Topic 2 Question 592 Discussion

Actual exam question for ACAMS's CAMS exam
Question #: 592
Topic #: 2

Can trading in antiques be useful for money laundering?

A. No, because the antiques market is rather small and unusual transactions would draw at-tention. B. No, because antique sales and purchases are highly regulated worldwide. C. Yes, because cash is often physically hidden within the antiques themselves. D. Yes, because antiques can be of high value and often easily transported.

Suggested Answer: C Vote an answer

Antiques are a potential tool for money laundering because they can be used to conceal, move, and convert illicit funds. Antiques can be of high value and often easily transported across borders, making them attractive for criminals who want to evade detection and reporting. Antiques can also be difficult to value and authenticate, creating a lack of transparency and accountability in the market. Criminals can exploit this to inflate or deflate the prices of antiques, or to use them as collateral for loans or other transactions. Antiques can also be used to layer or integrate illicit funds into the legitimate economy, by selling them through auction houses, dealers, or online platforms.
References:
CAMS Certification Package - 6th Edition, Chapter 4: Conducting and Supporting the Investigation Process, pp. 97-98.
Anti-money laundering and the art and antiquities market - a US and UK perspective, Mishcon de Reya LLP, 2022.
Antiques: an unconventional money laundering tool, The Express Tribune, 2023.
Art and Antiquities an Attractive Market for Money Laundering, FATF Argues, OCCRP, 2021.

by Gladys at May 21, 2024, 04:39 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.