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NEW QUESTION 29
After evaluating recent changes to international standards, an anti-money laundering specialist should consider enhanced due diligence on accounts held by which three groups of people?

A. Retail Account HoldersB. Precious Metal DealersC. LawyersD. Foreign Exchange Dealers

Answer: B,C,D

 

NEW QUESTION 30
A financial institution has expanded its scope of services so that it is attracting the business of politically exposed persons (PEPs) who had previously never been part of the customer base.
Which two courses of action should the compliance officer include in the institution's procedures for considering PEPs as customers? (Choose two.)

A. Obtain appropriate senior management approval for establishing a business relationship with a PEP from a high risk countryB. Conduct enhanced ongoing monitoring of the business relationshipC. Take adequate measures to establish the source of wealth and source of funds which are involved in the business relationship or occasional transactionD. Expedite due diligence when a PEP is pre-approved by a member of senior management

Answer: B,D

 

NEW QUESTION 31
Upon a routine account review a money laundering investigator identified a number of large round dollar wire transfer deposits into a business account owned by a local auto repair shop. The wire transfers all originated from a country that is a known financial secrecy haven with poor anti-money laundering controls. The investigator concludes there appears to be no legitimate business purpose for the wire transfers and files a suspicious transaction report. The owner of the auto repair shop is popular in the community and is a wellknown philanthropist.
To whom should the investigator escalate these concerns?

A. Audit committeeB. The owner of the auto repair shopC. The bank anti-money laundering officerD. Chairman of the Board

Answer: A

 

NEW QUESTION 32
A SAR/STR should be filed when the accountable institution identifies that:

A. an employee is not clearing alerts in a timely manner.B. a customer makes a cash deposit in round dollars.C. an alert is generated by a transaction monitoring system.D. cash transactions have values which avoid reporting thresholds.

Answer: C

 

NEW QUESTION 33
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