Question 1
Which U.S. law enacted in 1970 is considered the foundational statute requiring financial institutions to assist U.S. government agencies in detecting and preventing money laundering?
Correct Answer:
Bank Secrecy Act (BSA)
Question 2
Title III of the USA PATRIOT Act of 2001 is also known as which act?
Correct Answer:
International Money Laundering Abatement and Anti-Terrorist Financing Act
Question 3
Which agency within the U.S. Department of the Treasury is the financial intelligence unit (FIU) responsible for receiving SARs and CTRs?
Correct Answer:
FinCEN
Question 4
Under FinCEN's Customer Due Diligence (CDD) Final Rule, banks must identify and verify beneficial owners of legal entity customers holding what minimum equity interest?
Correct Answer:
25% or more
Question 5
How many pillars does a compliant BSA/AML program require under 31 CFR 1020.210?
Correct Answer:
Five pillars
Question 1
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About this Exam

Prepare with the CAFP Practice Questions - Certified AML and Fraud Professional (CAFP) Exam practice quiz. This question bank includes 100 questions covering customer, bank, fraud, money, and risk. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CAFP Practice Questions - Certified AML and Fraud Professional (CAFP) Exam

This practice set contains 100 questions from the matching question bank and focuses on customer, bank, fraud, money, and risk. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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