Free Practice ACFCS CFCS Exam Questions 2026

Stay ahead with 100% Free Certified Financial Crime Specialist CFCS Dumps Practice Questions

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Total 177 Questions | Updated On: May 22, 2026

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Question 1

During a review of its compliance program, XYZ Bank discovers that it has processed transactions involving individuals and entities on the Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list. What is the most appropriate action for XYZ Bank to take?

A : Immediately report the findings to OFAC and await further instructions.

B : Suspend all transactions until the individuals and entities are removed from the SDN list.

C : Implement enhanced due diligence procedures for transactions involving high-risk countries.

D : Conduct a retrospective review of transactions to assess the extent of potential violations.

Answer: A

Question 2

Your construction company wishes to hire Mr. X to provide consultancy services within his country. He has his own consulting firm and is also a board member of a state-owned bank Mr. X is known for having highlevel business connections and for charging exorbitant rales for his services Mr. X does not like to complete paperwork and prefers to work based on a verbal agreement. Which three facts are red flags requiring enhanced due diligence? Choose 3 answers

A : Mr. X may be considered to be a politically exposed person (PEP)

B : The price Mr. X charges is suspect if fees are not itemized and documented

C : As a board member of a stale-owned bank Mr. X may be considered a public official under the U.S. Foreign Corrupt Practices Act

D : The price Mr. X charges is suspect since he is in the business of helping companies obtain and retain business

Answer: A,B,C

Question 3

A new banking customer is flagged as a politically exposed person (PEP) from a developing country. This country is known for graft corruption, political oppression and very recently kleptocracy. You are an officer at a bank responsible lor determining if the bank will do business with this PEP. Given your responsibilities as an officer which course of action is MOST ethical?

A : Contact the country's government regulator notifying them that the PEP is attempting to open an account and inquire as to the PEP's perceived status

B : Contact your personal network of compliance peers to see if they have filed any reports against the PEP in the past

C : Download a law enforcement report about the PEP from WikiLeaks

D : While your employer does not forbid accounts from this country, recommend that enhanced due diligence be performed andthe customer be put on high-risk review

Answer: B

Question 4

In the context of Compliance Programs and Controls, which of the following statements best describes the purpose of an organizational overview of financial crime controls?

A : To ensure strict adherence to internal audit procedures.

B : To identify potential vulnerabilities and risks within the organization's operations.

C : To facilitate efficient communication between different departments.

D : To solely focus on regulatory compliance without considering business objectives.

Answer: B

Question 5

A hacker gains access to aclient’semail. The hacker, posing as the client contacts the real client's financial advisor and requests a wire transfer of S50,000 The advisor sells stock to generate cash and wires the funds to the account at ABC Bank provided by the hacker Has money laundering occurred?

A : Yes; the advisor sold stock and generated cash

B : No; there was no placement of funds in the account

C : No; the hacker has committed fraud but not money laundering

D : Yes; the hacker committed fraud and then wired money out to hide its origin

Answer: D

Page: 1 / 36

Total 177 Questions | Updated On: May 22, 2026

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