A compliance officer is tasked with implementing an enterprise-wide anti-money laundering program for a bank, which operates in multiple countries. Not all the bank products and services are available in all countries. Which three...
Which two steps should a financial institution take when it receives a law enforcement request to keep an account open that may be associated with suspicious or criminal activity? (Choose two.)A . File a...
An employee hears a colleague on the telephone with a customer giving advice on how to ensure that a suspicious transaction report will not be filed as a result of a future transaction. What...
A non-U.S. bank wants to open an account at Bank A, which is a U.S.-based bank. Which information must Bank A obtain under the USA PATRIOT Act?A . A complete client list from the...
A director of a financial institution was convicted of laundering money as part of a Ponzi scheme and terminated. As a result of an internal investigation evidence proved that an employee assisted in the...
A bank maintains a number of United States (U.S.) dollar correspondent accounts for foreign financial institutions. Upon a routine review of a U.S. dollar correspondent account owned by Foreign Bank A, a number of...
After review of the financial institution’s enterprise-wide anti-money laundering risk assessment, the new compliance officer identifies several deficiencies that need attention. Which deficiency could lead to the highest potential for unmitigated risk?A . The...
Which insurance product is particularly vulnerable to money laundering?A . AnnuityB . CasualtyC . CollateralD . Regulated pensionView AnswerAnswer: A
An organization’s automated surveillance system identifies large fluctuations in customer activity. As a result of an audit, the compliance officer is informed that the system is not generating alerts when activity is consistently abnormal...
What is the goal of the Egmont Group in providing a forum for Financial Intelligence Units (FIUs) around the world?A . To improve international laws to combat money laundering and the financing of terrorism...
