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

A customer making multiple fiat deposits at a cryptoasset ATM each day up to the standard deposit limit is a clear indication of potential smurfing because this strategy is often employed to evade detection of illegal activities, such as money laundering. Smurfing involves breaking down large transactions into smaller ones to avoid raising suspicions and staying under transaction reporting thresholds. By making numerous smaller deposits that align with the standard limits, the individual avoids triggering alerts that might be associated with larger, more suspicious transactions. The focus on daily limits suggests a deliberate attempt to scatter funds across multiple transactions rather than consolidating them, which could draw scrutiny from financial institutions or regulators. This method is particularly relevant in the cryptoasset space, where anonymity and rapid transactions can facilitate illegitimate activities. The other options describe activities that may arise in various contexts but do not specifically align with the classic behavior associated with smurfing or might indicate different types of financial crimes. For instance, using false identity documents can suggest identity theft rather than the nuanced strategy of smurfing. Additionally, withdrawing from multiple ATMs could be indicative of other patterns of suspicious behavior but not necessarily smurfing. Likewise, a sudden influx of elderly customers may hint at potential exploitation or other risks but does not specifically reflect