Certified Anti-Money Laundering Specialist Certification (CAMS) Practice Exam

What feature is considered a key investigative resource of the BIS?

1. SWIFT code lookup feature

2. Compliance tracking tool

3. Accounting standards guide

4. Market surveillance reports

The correct answer is: SWIFT code lookup feature

The SWIFT code lookup feature serves as a key investigative resource for the Bank for International Settlements (BIS). This functionality enables investigators to identify and verify financial transactions by checking the unique codes associated with different banks and financial institutions. This is particularly important in anti-money laundering efforts, as understanding the network of financial relationships and tracing the flow of funds is essential for identifying suspicious activities and potential laundering operations. The ability to trace transactions through the SWIFT system helps in establishing a clearer picture of how money moves across borders, which is crucial for regulatory and compliance purposes. While other resources, like compliance tracking tools or market surveillance reports, may assist investigations, the SWIFT code lookup stands out due to its direct relevance to tracing and verifying transactions across the global banking system.