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In addition to monitoring for suspicious activity, what are electronic monitoring systems also valuable for?
In addition to monitoring for suspicious activity, what are electronic monitoring systems also valuable for?A . Identifying how customers are using productsB . Highlighting the skills of the system analystsC . Proving to the Board of Directors that the FIU is doing its jobD . Meeting mandatory regulatory requirements for...
Which type of transactions present the highest risk?
Which type of transactions present the highest risk?A . Wire transfers from a publicly listed companyB . Payroll paymentsC . Social insurance paymentsD . Foreign exchangesView AnswerAnswer: D
According to the Second European Union Money Laundering Directive, what may knowledge of criminal conduct be inferred from?
According to the Second European Union Money Laundering Directive, what may knowledge of criminal conduct be inferred from?A . Subjective, factual circumstancesB . Objective, factual circumstancesC . Objective, non-factual circumstancesD . Subjective, non-factual circumstancesView AnswerAnswer: B
A compliance officer is looking to modify procedures covering correspondent banking relationships. Which three would be recommended under the Wolfsburg Principles on Correspondent Banking? Choose 3 answers
A compliance officer is looking to modify procedures covering correspondent banking relationships. Which three would be recommended under the Wolfsburg Principles on Correspondent Banking? Choose 3 answersA . Prohibition on offering products or services to shell banksB . Risk-based rating of central banks and regional development banksC . Periodic risk-based...
An audit completed the previous week revealed that a private banking customer submitted incomplete documents when establishing an account earlier m the year. The customer received weekly electronic fund transfers from a narcotic-producing jurisdiction. While the relationship manager who opened the account is on leave for 5 weeks, the customer requests that the institution remit a substantial sum to a country that represents a high risk of money laundering. The relationship manager is a friend of the anti-money laundering specialist. What should the anti-money laundering officer do first?
An audit completed the previous week revealed that a private banking customer submitted incomplete documents when establishing an account earlier m the year. The customer received weekly electronic fund transfers from a narcotic-producing jurisdiction. While the relationship manager who opened the account is on leave for 5 weeks, the customer...
Which three are examples of best practices terms of ensuring an adequate AML program?
Which three are examples of best practices terms of ensuring an adequate AML program?A . Engage an independent party to perform a periodic review of the programB . Review applicable domestic and international AML guidanceC . Perform a risk analysis on a regular basis and compare it to the coverage...
Which three are principles found in the document “Principles of information Exchange between Financial Intelligence Units (FIUs)”?
Which three are principles found in the document “Principles of information Exchange between Financial Intelligence Units (FIUs)”?A . The exchange of information between FIUs should take place as informally and as rapidly as possible and with no prerequisites, while guaranteeing protection of privacy and confidentiality of the shared dataB ....
In the FATF 40 recommendations, the focus of AML efforts has been expanded beyond Financial Institutions. Which three businesses and/or professions are covered? Choose 3 answers
In the FATF 40 recommendations, the focus of AML efforts has been expanded beyond Financial Institutions. Which three businesses and/or professions are covered? Choose 3 answersA . casinos, when customers engage in financial transactions equal to or above a designated ThresholdB . Real estate agents when they are involved in...
When an institution conducts an internal investigation into an account following a law enforcement inquiry, it should consider a number of factors to independently determine if the account should be dosed. Which three considerations should be made when making the determination about closing an account? Choose 3 answers
When an institution conducts an internal investigation into an account following a law enforcement inquiry, it should consider a number of factors to independently determine if the account should be dosed. Which three considerations should be made when making the determination about closing an account? Choose 3 answersA . The...
Which activity is most likely to facilitate money laundering through on-line systems with inadequate controls?
Which activity is most likely to facilitate money laundering through on-line systems with inadequate controls?A . Conducting a large volume of transactionsB . Providing continuous worldwide accessC . Conducting anonymous transactionsD . Conducting large value transactionsView AnswerAnswer: B
