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

What is a primary role of a 'Federal Receiver' in the United States?

1. To manage the government’s criminal cases

2. To oversee international banking regulations

3. To collect and control assets from foreign defendants

4. To serve as legal counsel in money laundering cases

The correct answer is: To collect and control assets from foreign defendants

A primary role of a 'Federal Receiver' in the United States is indeed to collect and control assets from foreign defendants. This position is often appointed by the courts, especially in cases involving complex financial fraud or asset forfeiture. The Federal Receiver is responsible for managing and preserving the assets that are under dispute or that are the subject of legal proceedings. In cases related to money laundering or financial crimes, foreign assets may be involved, which the Federal Receiver needs to handle efficiently to ensure that these assets are not dissipated or hidden. This role is critical in the enforcement of laws related to money laundering, as it ensures that illicitly obtained assets can be controlled and ultimately returned or repurposed according to judicial rulings. The other roles mentioned, such as managing the government's criminal cases or serving as legal counsel, do not align with the responsibilities of a Federal Receiver. These tasks are typically the domain of prosecutors or attorneys. Additionally, overseeing international banking regulations falls under regulatory bodies and financial institutions rather than the role of a Federal Receiver.