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Which actions are involved when a prosecutor instructs a bank to freeze the assets and bank accounts held by one of its clients? (Choose three.)
Which actions are involved when a prosecutor instructs a bank to freeze the assets and bank accounts held by one of its clients? (Choose three.)A . Inform other banks in the same geographical area to freeze the client's assets if they are a member of that bank, too. B. Extend...
What is true regarding disclosure to a law enforcement agency by a financial institution of the supporting documentation for a suspicious transaction report?
What is true regarding disclosure to a law enforcement agency by a financial institution of the supporting documentation for a suspicious transaction report?A . Documentation must be provided as quickly as possible using email B. The financial institution may notify the account holder of the request C. Confirm that the...
Which red flag should prompt additional transactional review?
A bank compliance officer has implemented enhanced monitoring rules that have identified some unusual activity that may be indicative of human trafficking. Which red flag should prompt additional transactional review?A . Wire transfer activity from countries with significant migrant populations B. Cash deposits that occur in cities where the customer...
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 circumstances B. Objective, factual circumstances C. Objective, non-factual circumstances D. Subjective, non-factual circumstancesView AnswerAnswer: B Explanation: The following were the key features of the Second Directive: • It extended...
To guard against acquisition or control of a financial institution by money launderers or their associates, what should supervisory agencies require?
To guard against acquisition or control of a financial institution by money launderers or their associates, what should supervisory agencies require?A . Adequate surety bonds, cash deposits, or equivalencies B. Comprehensive compliance programs C. Prospective owners have prior experience in the area of finance D. Thorough due diligence on prospective...
What are the European Union Directives on Money Laundering?
What are the European Union Directives on Money Laundering?A . They are voluntary codes of best practice for the financial sector B. They are written by the Wolfsberg Group C. They require members to implement certain laws of prevent money laundering D. They require financial institutions to report suspicious activity...
Financial Intelligence Units (FIUs) are responsible for:
Financial Intelligence Units (FIUs) are responsible for:A . the timely dissemination of cases to law enforcement agencies. B. responding to requests from law enforcement agencies for information contained in regulatory reports. C. sharing evidence with other FIUs. D. receiving confirmed reports about committed crimes from accountable and reporting institutions.View AnswerAnswer:...
What should an anti-money laundering specialist recommend?
An account officer who maintains an excellent relationship with the finance manager for a correspondent bank customer learns that many records for the correspondent bank have been requested by law enforcement. In the interest of maintaining a good relationship with the customer, the account officer sets up a meeting to...
Which factor causes the compliance officer to update the bank’s risk assessment?
A new compliance officer is reviewing the bank’s anti-money laundering program and notices that the risk assessment was completed six months ago. Since that time, the bank acquired another financial institution, renamed the internal records group, and streamlined cash handling procedures. Which factor causes the compliance officer to update the...
To what extent should senior management and the Board of Directors be involved in the filing of any STR?
To what extent should senior management and the Board of Directors be involved in the filing of any STR?A . They should be informed of all significant STRs and the numbers and trends of the filings B. They should be given copies of all STRs filed by the institution C....
