PrepAway - Latest Free Exam Questions & Answers

What is another name for these internal, non-client acc…

In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the
use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring
movements of funds or keep clients from being linked to the movement of funds on their behalf.
What is another name for these internal, non-client accounts?

PrepAway - Latest Free Exam Questions & Answers

A.
Trust accounts

B.
Correspondent accounts

C.
Concentration accounts

D.
Pay through accounts

Explanation:
Explanation/Reference:Reference: http://www.wolfsberg-principles.com/privat-banking.html (1.2.2, 5th bullet)


Leave a Reply

Your email address will not be published. Required fields are marked *