Quiz

Which of the following condition should be reported by branch compliance officer to the compliance officer in head office?

Which statement is true regarding the risk of Politically Exposed Persons (PEPs)?

A new customer approaches a bank to open a commercial account. The customer provides an address for the account located across the city from the branch. When asked by the account representative if the customer requires any additional banking services, the customer responds she is also interested in in opening a personal investment account. The account representative refers the customer to their broker-dealer. The customer tells the firm representative she has never had a brokerage account before and has a few questions about how an investment account works. The customer asks how deposits can be made into her account if there are any reporting requirements, and how to go about moving balances out of the account using wire transfers. No questions are asked about fees associated with these transactions. Which three items would be considered suspicious?

What are three possible red flags indicating suspicious or unusual activity that might warrant an investigation and the filing of an STR?

Roy, a BSA officer for a large financial institution, is reviewing a possible money laundering case. What are three potential red flags that should concern him?

Trade Based Money Laundering requires the ability to:

Which of the following statements is true? Correspondent banking is MOST vulnerable to money laundering when the correspondent account is:

Why is a Payable Through Account vulnerable to money laundering?

When assessing a new product, which of the following should be considered as part of the assessment from an AML perspective?

What are three possible red flags indicating suspicious or unusual activity that might warrant an investigation and the filing of an STR?