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ACFCS CFCS Exam Overview:

ACFCS CFCS Exam Syllabus Topics:

ACFCS Financial Crime Specialist Sample Questions:

Question 1

You are an investigator in a country that has a money laundering law that uses the list approach to identify the predicate offenses. There are 12 crimes on this list of predicate offenses. You are currently investigating a public official for suspected money laundering, and the source of the official's illegal income is not yet known You have just discovered a hidden bank account owned by the official in which $5 million has been transacted in the past year.
Which is Ihe MOST important in order to prove money laundering?

A. Trace the source of the deposit into the bank account
B. Analyze the disbursements from the bank account to prove Ihe integration phase
C. Identify all cash transactions within the account
D. Establish the layering phase of the transactions

Question 2

You are in charge of network security for a national financial institution. Despite your best efforts you have suffered a major data breach due to overseas hackers. You are now tasked with reacting to that breach.
Which action should you take immediately?

A. Terminate all external connections to devices that hold sensitive customer data
B. Reconfigure all of your access devices lo refuse connections for any IP address that is international
C. Deploy a new set of proxy firewalls to your intranet
D. Identify the sensitivity of the data and level of impact on the organization

Question 3

A large banking institution retains a collections law firm to determine if a $25 million default on a commercial loan is fraud. The attorneys need to determine if the defaulting parly is worth pursuing in civil litigation by first determining if the defaulting entity and/or individual committed fraud by intentionally defaulting.
Which is an indicator or a red flag that the defaulting party could be committing fraud?

A. The payments toward the loan have been delinquent many times over several years of maintaining Ihe loan
B. A history of bankruptcies is found relating to the defaulting entity or individual
C. The individual or entity involved in the default loan maintains numerous holding companies
D. The loan IS collateralized by accounts receivable

Question 4

You are conducting a due diligence review of one of your firms' high-risk clients He runs an international import/export business and transacts in multiple currencies including Bitcoin. You notice a suspicious outgoing transaction Irom your firm and know your client often converts his currency to Bitcoin Since all transactions are public on the Bitcoin blockchain. you conduct research online and find the following string that coincides with the date, time and approximate amount of your client's transaction.

You want to contact Bitcoin to learn if this is, in fact your client.
Which part of the encrypted transaction can Bitcoin confirm for you?

A. The type of the currency converted to Bitcoin
B. The ISP identifier
C. Bitcoin cannot confirm any information
D. If either party is a merchant and the purpose of the transaction

Question 5

A law firm realizes that its confidential information has been leaked to outsiders, causing the firm to lose court cases and clients The information is believed to have been taken from a password-protected shared file located on the company's servers, which can only be accessed via internal network connections Investigations thus far indicate that an employee was involved in the data breach.
Which are Ihe MOST effective steps the firm could lake lo prevent further loss of data? Choose 2 answers

A. Update the firm's code of ethics and require all employees to sign an acknowledgement of understanding
B. Disable USB ports on firm computers so no information can be removed from them
C. Install security cameras to monitor the law firm premises
D. Set up a program to monitor access to all shared files and alert IT when employees transfer large amounts of data

Solutions: