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NEW QUESTION 43
The marketing department presents to an anti-money laundering specialist a business plan targeting individuals holding important public positions. In addition to obtaining the proper identification and basic information from these customers, what else should the anti-money laundering specialist recommend a financial institution do to check the background and conduct enhanced due diligence based on public information?

A. Investigate the source of funds.B. Identify a person fully, including their political history.C. Determine if a client appears on the Basel Committee on Banking Supervision's list of public officials.D. Identify people and companies that are clearly related.

Answer: A

 

NEW QUESTION 44
An anti-money laundering specialist working at a bank just received a legal request from a law enforcement agency mandating the release of all financial transaction records relating to an account at the bank. The specialist immediately recognizes the account as one owned by the bank Chief Executive Officer's brother.
During research to gather the requested documents, the specialist finds several internal memos he had sent to the bank president with concerns regarding possible suspicious activity relating to this account. The specialist recalls the bank president verbally responded to each memo with an explanation of the activity and indicated there was no cause for concern. What should the specialist do with respect to these internal memos?

A. Call the law enforcement agent and suggest he modify the legal request to include these memosB. Place these memos in his personal files in case they are subsequently requestedC. Advise the bank's senior legal advisor of the situationD. Ask the bank president to document his instructions to the specialist

Answer: C

 

NEW QUESTION 45
Which statement is true according to the FATF?

A. When deciding on the range of offenses to be covered as predicate offenses for money laundering, each country should define the nature and any particular elements of those offensesB. When deciding on the range of offenses to be covered as underlying offenses for money laundering, each country may decide how serious offensesC. Countries should not decide how they will define predicate or underlying offenses, or the nature of any particular elements of those offenses that make them serious offenses, but should base the offenses on FATF definitionsD. Predicate or underlying serious offenses are determined by the designated non-financial businesses or professionals that are covered by the FATF 40 Recommendations

Answer: C

 

NEW QUESTION 46
Which method do terrorist financiers use to move funds without leaving an audit trail?

A. Cash couriersB. ExtortionC. Casa de cambioD. Virtual currency

Answer: A

 

NEW QUESTION 47
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