Try ACAMS : CGSS valid & accurate questions and answers

While reviewing a transaction screening alert, an analyst noted that a payment message made reference to a port in a sanctioned country. The payment was to a company based in a country neighboring the sanctioned country. Which action should the analyst take?

• A. Review if the beneficiary party's country applies sanctions on the neighboring country; if not, the payment can be approved.
• B. Reject the payment and request the remitter to remove any reference to sanctioned country port in the payment message.
• C. Approve the payment since the parties in the payment are not based in a sanctioned country or are not subject to sanctions.
• D. Request the underlying documents and shipment details to ensure there is no involvement of a sanctioned party, port, or sanctioned country goods.

Which fields of a payment message are commonly subject to sanctions screening? (Select Three.)

• A. Sender's internal payment reference number
• B. Remitter and beneficiary
• C. Free text fields
• D. Effective day of the payment
• E. Agents, intermediaries, and financial institutions
• F. Currency and notional value of the transaction

Which action must be taken when investigating a potential match on a client?

• A. Include products and services on the CDD
• B. Include the regulatory documentation on the CDD
• C. Conduct an analysis to determine if the match is a true match.
• D. Perform CDD to maintain details on the customer relationship.

A financial institution's decision to adjust the degree of sensitivity of a screening tool should be based on its transaction volume and:

• A. personnel training.
• B. risk assessment.
• C. management commitment.
• D. number of staff.

According to the Wolfsberg Guidance, the most important factor a financial institution should take into consideration for developing an in-house sanctions screening system is:

• A. data quality.
• B. geographical presence.
• C. information technology capabilities.
• D. risk appetite.