On who does the ultimate responsibility for an institut…
On who does the ultimate responsibility for an institution’s anti-money laundering program rest?
What are three elements of a sound Customer Due Diligen…
What are three elements of a sound Customer Due Diligence Program?
government to do?
What does designing a country as being of “prime money laundering concern” allow the U.S. government to
do?
What should the junior account manager do?
A junior account manager within an international private bank in Country A was asked by one of his valued
customers, who has held an account for several years in the institution, about depositing a large sum of cash
into her account. The junior account manager informed his customer that his bank does not accept cash. The
junior account manager later reviewed a customer activity report and noticed a number of smaller dollar wires
from banks in neighboring Country B, which has lax currency controls, that totaled about as much as the
customer intended to deposit.
What should the junior account manager do?
Which three criteria does a shell bank meet according t…
Which three criteria does a shell bank meet according to the Wolfsberg Principles on Correspondent Banking?
Choose 3 answers.
How can a financial institution verify the nature and p…
How can a financial institution verify the nature and purpose of a business and its legitimacy?
What should the bank do?
A customer comes into a financial institution and deposits a large amount of cash. He has never done that
before. When asked about the deposit, he indicates he recently sold a used car and received cash.
He does not trust forms of payment and is wary of counterfeit money orders. What should the bank do?
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 discuss
the legal request with the customer. The account officer intends to discuss points related to the investigation
during the meeting.
What should an anti-money laundering specialist recommend?
Which would be the most appropriate step to take?
An AML compliance officer receives notice of government update including the names of the latest terrorists
sanctioned by the United Nations Security Council. Which would be the most appropriate step to take?
Which three procedures should a compliance officer look…
Which three procedures should a compliance officer looking to revise an institution’s CTF efforts include in
accordance with the Wolfsberg Group’s Statement on the Suppression of the Financing of Terrorism?