Cryptoasset Anti-Financial Crime Specialist (CCAS) Certification Practice Test

A medium risk customer deposits EUR 5,000 and transfers virtual assets to an unregulated provider. Which red flag is most relevant?

1. The customer's net asset declaration is inconsistent with yearly income

2. The customer immediately bought virtual assets after deposit

3. The customer's deposit deviates from initial onboarding

4. The customer registered and transferred virtual assets out immediately

The correct answer is: The customer registered and transferred virtual assets out immediately

The most relevant red flag in this scenario is the immediate transfer of virtual assets out after registration. This behavior could suggest that the customer is attempting to quickly move assets to an unregulated provider, which may indicate a higher risk of engaging in financial crime or evading regulatory scrutiny. Such immediate transfers often raise concerns about the customer's intent, as they may not be engaging in typical financial transactions and might be trying to obscure the trail of funds or evade anti-money laundering (AML) measures. In the context of financial crime prevention, compliance teams often look for unusual transaction patterns, and a customer who registers and swiftly moves their assets to a different provider, especially one that is unregulated, can present a significant risk. This is particularly crucial for medium risk customers, as it suggests potential attempts at misuse of the financial system. The other options, while potentially concerning, do not indicate as immediate a risk level as the rapid transfer of virtual assets. Discrepancies in net asset declarations, buying behavior, or deviations from initial onboarding may warrant further investigation but do not present the same urgency or direct indication of suspicious activity as the immediate transfer to an unregulated provider does.