CAFCA Practice Questions - ACAMS Certified AML FinTech Compliance Associate Exam

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A Buy Now Pay Later (BNPL) provider such as Klarna, Afterpay, or Affirm offers split-pay installments at point of sale. Which AFC risk is MOST distinctive to the BNPL model versus traditional credit cards?

Cash-back rewards programs Synthetic identity fraud paired with quick-merchant cash-out abuse Foreign-exchange conversion fees Mortgage default risk

Correct Answer:

Synthetic identity fraud paired with quick-merchant cash-out abuse

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