Exam (elaborations)

CAFCA Combined Exam Questions With Revised Correct Detailed Answers |ALREADY GRADED A+ PASS >> BRAND NEW VERSION!

6 views 0 purchase

Course
CAFCA

Institution
CAFCA

[Show more]

Preview 4 out of 90 pages

View example

Uploaded on October 19, 2024
Number of pages 90
Written in 2024/2025
Type Exam (elaborations)
Contains Questions & answers

cafca
cafca combined exam questions with revised cor

Institution CAFCA
Course CAFCA

EWLindy

Member since 1 year 491 documents sold

CA$26.09

Added

Add to cart

Add to wishlist

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

CAFCA Combined Exam
Questions With Revised
Correct Detailed Answers
|ALREADY GRADED A+ PASS
>> BRAND NEW VERSION!

1) What is the difference between anti-fraud and AML monitoring? - ANSWER
Anti-fraud monitoring ultimately
aims to reduce an organization's
fraud losses. AML efforts are done mainly to
comply with regulations and ensure that an
organization is not used for money laundering.

2) Anti-fraud vs AML monitoring solutions - ANSWER Anti-fraud monitoring
Reduce fraud losses
AML monitoring
Comply with regulations
Prevent involvement

3) Why is it important to scale an organization's
transaction monitoring program along with its

,growth? - ANSWER To monitor evolving and new risks;
detect financial crime activity
among new customers, products, and
geographies; and quickly resolve open alerts.

4) What is meant by "financial inclusion" in the

context of AML obligations? - ANSWER Ensuring that legitimate customers
have access to financial systems,
even when they cannot provide all of the
information typically required. Organizations
must balance AML risks with support for financial inclusion required by law.

5) In what ways can a Fin Tech take a risk-based
approach to balance customer risk with

customer experience at onboarding? - ANSWER Focusing EDD measures on
customers who pose specific risks;
using technology to speed up the onboarding
process; allowing customers who are
considered low-risk to onboard with no
intervention; carefully designing onboarding
flow; and providing positive customer support.

6) What role does network analysis play in AML

investigations? - ANSWER Network analysis is an investigation

,tool that searches for common
traits among account holders and activities that
could link them as part of a network. Some
organizations build internal network analysis tools
whereas others use third-party investigative
software.

7) What are some ways to verify the credibility of

open source intelligence? - ANSWER Check accuracy, verify information
from multiple sources, consider the
motives of the source, be alert to bias, and
identify information provided by the subject.

8) Define "open source intelligence." - ANSWER The practice of collecting
information from published or otherwise publicly available sources, such as
media websites, blogs, corporate records, social
media, and satellite imagery.

9) What does critical thinking involve in the context

of financial crime investigations? - ANSWER It means avoiding personal
biases;
using varied, independent,
reputable, and relevant sources; checking for
accuracy and logic; considering opposing

, information; recognizing knowledge gaps; and substantiating conclusions.

10) What is the role of Reg Tech in AML programs? - ANSWER In AML, Reg
Tech is typically used to
support onboarding, transaction monitoring, investigations, reporting, and risk-
assessment and governance processes. A
Reg Tech can design products that solve an organization's specific data and
technical
problems.

11) What are some important considerations when
using third-party contractors and consultants in

AML programs? - ANSWER They can play a valuable role, but
require ongoing oversight and due
diligence checks; appropriate training; and the
appropriate level of access to internal systems
and data. Ensure they have no implicit biases.
Consider them equal or higher risk than the
organization's employees.

12) What is an "indemnity"? - ANSWER A formal legal document that is
commonly used in communication
between financial institutions, often to request
information. Indemnities facilitate the return of
funds from one organization to another when

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller EWLindy. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$26.09. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75632 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Exam (elaborations)

CAFCA Combined Exam Questions With Revised Correct Detailed Answers |ALREADY GRADED A+ PASS >> BRAND NEW VERSION!

Document information

Subjects

Written for

Seller

Reviews received

Content preview