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How does a regulatory body typically obtain international assistance in a money Laundering inquiry?
How does a regulatory body typically obtain international assistance in a money Laundering inquiry?A . By filing a request under Egmont guidelinesB . By submitting a request for overseas assistance to the corresponding supervisory bodyC . By contacting the FATF, Organization for Economic Co-operation and Development, or other international organizations...
What is a criterion for FATF membership?
What is a criterion for FATF membership?A . The country should be democracyB . The country should be a member of a FATF-style regional bodyC . The country should have already implemented all of the FATF RecommendationsD . The country should have already implemented the standards of the European Union...
What are three risk factors a financial institution should examine with regard to a proposed new product?
What are three risk factors a financial institution should examine with regard to a proposed new product?A . The complexity of the productB . The need to verify the identification of the customerC . Whether the product is easily transferableD . Whether other financial institutions are marketing the productView AnswerAnswer:...
When requested by law enforcement via legal process to provide records or documentation, what should the officers of financial institution do?
When requested by law enforcement via legal process to provide records or documentation, what should the officers of financial institution do?A . Provide all records and documents the officer believes would be pertinent to the law enforcement agent’s investigationB . Refuse to provide any records or documents until the agent...
A commission regotorie would be used in which gateway to obtain information from another country?
A commission regotorie would be used in which gateway to obtain information from another country?A . An FIU request under the Egmont principlesB . An MLAT requestC . A supervisory channel request with the Basel CommitteeD . A FATF requestView AnswerAnswer: B
The Wolfsberg Principles for Private Banking list circumstances that would require additional due diligence, including activities that involve which three of these choices?
The Wolfsberg Principles for Private Banking list circumstances that would require additional due diligence, including activities that involve which three of these choices?A . Foreign jurisdictionsB . High Risk Countries, including those identified by credible sources as having inadequate Anti-Money Laundering standardsC . igh Risk activities, involving clients and beneficial...
An anti-money laundering expert is hired by a new Internet bank to assess the money laundering threat to the bank. What is the most important recommendation for the expert to make given it is an on-line bank?
An anti-money laundering expert is hired by a new Internet bank to assess the money laundering threat to the bank. What is the most important recommendation for the expert to make given it is an on-line bank?A . The bank should limit the amount of money which can be processed...
Which three statements are true regarding the extraterritorial reach of laws and legislation of the U.S.?
Which three statements are true regarding the extraterritorial reach of laws and legislation of the U.S.?A . The criminal anti-money laundering law can apply to transactions that occur partially overseasB . Economic and trade sanctions by OFAC may pose extraterritorial risks for financial institutions and businesses outside theE . The...
What are some red flags pertaining to potentially suspicious transactions by a customer? Choose 3 answers
What are some red flags pertaining to potentially suspicious transactions by a customer? Choose 3 answersA . Having multiple addresses and/or moving frequentlyB . Having a commercial account with cash depositsC . Have a common address with several other bank clientsD . Having multiple individuals use the ATM card connected...
In which type of banking transaction is price manipulation, as a form of money laundering, a common practice?
In which type of banking transaction is price manipulation, as a form of money laundering, a common practice?A . Redeeming an annuityB . Sending a wire transferC . Issuing a letter of creditD . Subscribing to a cash management accountView AnswerAnswer: C
