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NEW QUESTION # 58
Which is the most important consideration when assessing compromise risks when creating a decentralized finance protocol or smart contract?
- A. Government regulation
- B. Code uniqueness
- C. Dual authentication protocols
- D. Security token standard
Answer: B
Explanation:
Code uniqueness is critical because reuse or replication of vulnerable code exposes protocols to known exploits. Unique, well-audited, and secure code minimizes compromise risk in decentralized finance (DeFi) and smart contracts.
Security standards (A), authentication (B), and regulation (C) are important but secondary to the fundamental security of the code itself.
NEW QUESTION # 59
What is the intention of the Financial Action Task Force's (FATF's) Travel Rule?
- A. To slow down cryptoasset transactions to allow law enforcement to intervene
- B. To mitigate money laundering and terrorist financing (ML/TF) risk by increasing the ability to follow funds via different financial institutions
- C. To enhance customer due diligence (CDD) procedures to ensure high quality data
Answer: B
Explanation:
The FATF Travel Rule requires Virtual Asset Service Providers to share originator and beneficiary information for virtual asset transfers exceeding a certain threshold. Its purpose is to mitigate ML/TF risks by increasing transparency and enabling authorities to trace the movement of funds across institutions and jurisdictions.
It does not aim to slow transactions (B) or directly enhance CDD (A), although it supports the overall AML framework including CDD.
This rule is a cornerstone of FATF's efforts to regulate virtual asset transfers effectively and is adopted by DFSA and other regulators.
NEW QUESTION # 60
A politically exposed person (PEP) opens a crypto account. What is the required action?
- A. Decline onboarding.
- B. Treat as standard customer.
- C. Request a travel rule exemption.
- D. Apply EDD and senior management approval.
Answer: D
Explanation:
PEPs require enhanced scrutiny under FATF Recommendation 12, including senior management approval and source of funds verification.
NEW QUESTION # 61
Which governance function is ultimately responsible for approving AML/CFT policies?
- A. Board of Directors
- B. Chief Executive Officer
- C. Compliance officer
- D. MLRO
Answer: A
Explanation:
The Board holds ultimate responsibility for policy approval under DFSA and FSRA AML rules, ensuring senior-level oversight.
NEW QUESTION # 62
Under DIFC AML regulations, enhanced due diligence (EDD) is mandatory when:
- A. A customer is a domestic bank.
- B. The customer is a retail investor.
- C. The customer is from a high-risk jurisdiction.
- D. The transaction is above USD 1,000.
Answer: C
Explanation:
EDD is required when dealing with customers or transactions from jurisdictions identified as high-risk for ML/TF. This aligns with FATF Recommendation 19 and local UAE regulations.
NEW QUESTION # 63
What methods do criminals use to avoid clustering of crypto wallet addresses?
- A. A small portion of cryptoassets is moved to an exchange, and the rest remain in the wallet.
- B. After receiving a large volume of crypto payments in the wallet, they are left there for a long period of time.
- C. The cryptoassets are moved to the exchange after a large number of hops within a short period of time.
- D. The address receives a large amount of cryptocurrency from another wallet address.
Answer: C
Explanation:
Criminals often move cryptoassets through multiple intermediary wallets (many "hops") rapidly to obfuscate the transaction trail and avoid clustering, which blockchain analytics use to link related addresses.
Simply receiving large amounts (A), holding assets (B), or splitting movements (D) are less effective at preventing clustering.
NEW QUESTION # 64
Which scenario most likely indicates potential active involvement of a customer in virtual asset related scam activities?
- A. Indirect sending to a scam cluster
- B. Indirect receiving from a scam cluster
- C. Direct sending to a scam cluster
- D. Direct receiving from a scam cluster
Answer: C
Explanation:
Direct sending to a scam cluster indicates active involvement by the customer in potentially transferring funds associated with fraudulent activities. Sending funds directly to known scam addresses is a strong indicator of complicity or direct engagement.
Indirect flows (A and B) could be less conclusive, and direct receiving (D) may indicate victimhood rather than active involvement.
AML typologies and DFSA guidance identify direct outgoing transactions to scam clusters as significant red flags.
NEW QUESTION # 65
Which Is the general consensus among Jurisdictions who have performed a national risk assessment about cryptoasset activities conducted in their countries?
- A. With increased awareness about cryptoasset activities, the money laundering risk levels become lower.
- B. There Is a rising level of money laundering risks related lo cryptoasset activities
- C. The level of money laundering risk linked to cryptoasset activities is very dependent on a country's geographical position.
Answer: B
Explanation:
D, Where the adoption rate of digital banking Is high, a decreased level of money laundering risks related to cryptoasset activities is reported Explanation:
National risk assessments conducted across various jurisdictions consistently report that money laundering risks related to cryptoasset activities are rising. The growing adoption, complexity, and use of cryptoassets for illicit purposes contribute to elevated risk levels.
While geography (B), awareness (C), and digital banking adoption (D) can influence risk factors, the overarching trend is an increase in ML risks tied to cryptoassets.
This conclusion is supported by FATF's global guidance and numerous national risk assessment reports reviewed by the DFSA and related authorities
NEW QUESTION # 66
What Is the purpose of applying learning (ML) or artificial Intelligence (Al) within a compliance framework? (Select two.)
- A. To reduce headcount
- B. To enhance efficiency
- C. To focus skilled resource on higher value activity
- D. To reduce the requirement for risk assessment
Answer: B,C
Explanation:
Machine learning (ML) and artificial intelligence (AI) are applied within compliance frameworks to enhance the efficiency of monitoring and detection processes and to allow skilled compliance resources to focus on higher-value activities such as complex investigations and strategic decision-making. ML/AI tools can process vast amounts of transaction data to identify suspicious patterns faster than manual processes.
They do not reduce the fundamental requirement for risk assessment (A) nor are they intended primarily to reduce headcount (C), but rather to optimize resource allocation.
AML and DFSA guidance emphasize leveraging technology to improve the effectiveness and efficiency of AML controls while maintaining robust risk management.
NEW QUESTION # 67
Based on Financial Action Task Force guidance, when a cryptoasset exchange carries out an occasional transaction, the exchange is required to conduct CDD when the transaction is above:
- A. USD/EUR 1000.
- B. USD/EUR 5000.
- C. USD/EUR 10000.
- D. USD/EUR 15000.
Answer: C
Explanation:
FATF guidance sets the threshold for Customer Due Diligence (CDD) on occasional transactions at USD/EUR 10,000 or equivalent. This means that when a cryptoasset exchange processes a one-off transaction exceeding this amount, it must apply appropriate CDD measures.
This aligns with FATF Recommendation 10 and is adopted by DFSA and FSRA frameworks governing virtual asset service providers, ensuring transactions over this limit are subject to identity verification and risk assessment.
Extracts from AML and COB modules emphasize this threshold as the trigger for CDD on occasional transactions to prevent laundering through high-value single transfers.
NEW QUESTION # 68
What is a "token burn"?
- A. Sending tokens to a liquidity pool.
- B. Destroying tokens to reduce supply.
- C. Locking tokens in staking.
- D. Transferring tokens to an OTC desk.
Answer: B
Explanation:
A token burn is the deliberate removal of tokens from circulation by sending them to an unspendable address. While sometimes legitimate, burns can also be misused for market manipulation.
NEW QUESTION # 69
Which blockchain type is accessible only to a single organization?
- A. Consortium
- B. Hybrid
- C. Public
- D. Private
Answer: D
Explanation:
Private blockchains are controlled by a single organization with full access restrictions. This model is often used for internal record-keeping but lacks the decentralized trust of public chains.
NEW QUESTION # 70
In the context of forensic cryptocurrency investigations, which statement best describes how attribution data are collected?
- A. Gathered from a publicly available blockchain.
- B. Taken from business-maintained records.
- C. Derived from public and non-public sources.
- D. Obtained automatically from the darknet.
Answer: C
Explanation:
Attribution data involves linking blockchain addresses to real-world entities, which is derived from a combination of public sources (blockchain explorers, public databases) and non-public sources (law enforcement databases, commercial analytics, exchange records).
Relying solely on blockchain data (C) or darknet sources (D) is insufficient. Business records (A) are part of non-public sources.
DFSA and FATF AML guidance underscore the multi-source approach for effective forensic attribution.
NEW QUESTION # 71
Which of the following are functions of cryptoasset mining? (Select Two.)
- A. Generating new cryptoassets
- B. Optimizing and improving the functionality of the network
- C. Ensuring the security of the network
- D. Validating transactions on the blockchain
Answer: A,D
Explanation:
Mining generates new cryptoassets (A) by rewarding miners for solving complex cryptographic puzzles. It also validates transactions on the blockchain (D) by confirming and recording them in blocks, ensuring the integrity of the ledger.
While mining indirectly contributes to network security, the core security mechanisms involve consensus protocols beyond mining alone (B). Optimizing network functionality (C) is usually a development task rather than a mining function.
NEW QUESTION # 72
Which type of blockchain is jointly operated by multiple pre-approved organizations?
- A. Consortium
- B. Hybrid
- C. Public
- D. Private
Answer: A
Explanation:
Consortium blockchains are semi-private networks where governance is shared among authorized participants, offering a balance between decentralization and access control.
NEW QUESTION # 73
Which is an example of "structuring" in crypto transactions?
- A. Using a decentralized exchange.
- B. Engaging in staking.
- C. Exchanging one crypto for another.
- D. Sending multiple sub-threshold transactions to avoid reporting.
Answer: D
Explanation:
Structuring (smurfing) involves breaking transactions into smaller amounts to evade AML reporting thresholds, a classic ML tactic.
NEW QUESTION # 74
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ACAMS CCAS Exam Syllabus Topics:
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