QUESTION 366
Having a risk-based approach is central to a financial institution understanding the money laundering and terrorist financing risk to which they are exposed. The development of a money laundering and terrorist financing risk assessment is a key starting point.
Commonly used risk factors include. (Select Three.)

QUESTION 367
A sound AML compliance program requires a comprehensive governance framework that addresses key elements to ensure the integrity of the financial system.
Which element forms the starting point of an effective AML compliance program?

QUESTION 368
What are two aspects of the Wolfsberg Anti-Money Laundering (AML) Principles for Correspondent Banking? (Choose two.)

QUESTION 369
the Financing of Terrorism (CFT)]
The United Nations Security Council (UNSC) is empowered to impose sanctions regimes against countries and terrorist organizations.
Which statements are true regarding sanctions imposed by the UNSC? (Select Two.)

QUESTION 370
AML training programs should extend beyond basic concepts to deliver targeted training by:

QUESTION 371
The manager of a bank’s KYC team discovers that a high-risk customer’s activity was not reviewed last quarter as required by the bank’s internal compliance schedule.
What should the KYC team manager do?

QUESTION 372
The regulators of a US financial institution find that the institution has failed to establish and maintain a reasonably designed AML program. Which regulatory actions should be taken? (Select Two.)

QUESTION 373
Which red flag indicates high potential for money laundering in a real estate purchase?

QUESTION 374
An institution has made the decision to exit a client relationship due to anti-money laundering concerns. Prior to starting the close out process, the institution receives a written request from a law enforcement agency to keep the account open. The client is the subject of an ongoing investigation and law enforcement wants the institution to continue to monitor the account and report any suspicious activity.
What is primary consideration the institution should keep in mind when deciding whether to agree to this request?

QUESTION 375
According to the Financial Action Task Force 40 Recommendations, to fulfill identification requirements concerning legal entities, financial institutions should take measures to verify

QUESTION 376
A bank receives an anonymous tip from an employee about another employee through its confidential hotline.
Which activity warrants further review?

QUESTION 377
What is the appropriate compliance control for identifying politically exposed persons (PEPs) according to the Basel Committee’s paper on Customer Due Diligence for Banks?

QUESTION 378
Which three should real estate agents include in the criteria to assess their company’s potential money laundering and terrorist financing risks when implementing a reasonable risk-based approach?

QUESTION 379
A high volume of incoming wire transfers generates an alert about a client. The funds are immediately debited by cash withdrawals and outgoing wire transfers. Which information should be reviewed first to investigate this alert/case?

QUESTION 380
Combating the Financing of Terrorism (CFT)]
Which of the following is considered a shell bank as defined by the USA PATRIOT Act?

QUESTION 381
Which Trust parties should be identified to determine the true nature of the Trust relationship according to Basel guidelines? (Choose three.)

QUESTION 382
Combating the Financing of Terrorism (CFT)]
Which key factor would result in the decision for a financial institution (FI) to exit a client relationship?

QUESTION 383
An offshore company is owned by four equal partners that reside in separate jurisdictions. One partner presents an authenticated power of attorney apparentlyexecuted by the remaining three partners in his favor and requests that a bank account be opened on behalf of all partners. He needs this done quickly because there is a large deposit pending. The account-opening officer contacts the bank’s anti-money laundering officer for advice. Which of the following should the anti-money laundering officer advise as an initial step?

QUESTION 384
A compliance officer is conducting a review of the automated transaction monitoring system. What would be most likely to result in a change in the monitoring system parameters?