QUESTION 13
A bank compliance officer has implemented enhanced monitoring rules that have identified some unusual activity that may be indicative of human trafficking.
Which red flag should prompt additional transactional review?

QUESTION 14
Which indicator should be suspicious to a compliance officer at a brokerage firm?

QUESTION 15
An account officer who maintains an excellent relationship with the finance manager for a correspondent bank customer learns that many records for the correspondent bank have been requested by law enforcement. In the interest of maintaining a good relationship with the customer, the account officer sets up a meeting to discuss the legal request with the customer. The account officer intends to discuss points related to the investigation during the meeting.
What should an anti-money laundering specialist recommend?

QUESTION 16
Which three measures are contained in Financial Action Task Force 40 Recommendations for reporting suspicious activity? (Choose three.)

QUESTION 17
Which information must a United States financial institution retain for having foreign correspondent accounts as part of the USA PATRIOT Act record keeping requirements?

QUESTION 18
Which is a red flag for funds transfers?

QUESTION 19
The owner of a local retail store makes multiple deposits daily at a bank. When the owner makes these deposits, it is noted that he goes to different tellers (cashiers). The deposits consist of cash in amounts less than the currency reporting threshold. Which of the following best describes this activity?

QUESTION 20
Which element is generally required of all anti-money laundering programs?

QUESTION 21
The purpose of an anti-money laundering program should be to do what?

QUESTION 22
Which are the requirements of the Filth AML Directive of the EU? {Select Two.)

QUESTION 23
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?

QUESTION 24
Which activity is most likely to facilitate money laundering through on-line banking systems with inadequate controls?

QUESTION 25
What is an essential element of Know Your Customer (KYC) standards according to the Basel Committee’s Customer Due Diligence for Banks paper?

QUESTION 26
A client who owns a swimming pool company requests to open 19 accounts at a bank, each with a debit card for its swimming pool technicians. When asked about the purpose of each account, the client explains that each technician needs a separate checking account to purchase pool chemicals.
Which available source could be used in the bank’s internal investigation on this client’s activities?

QUESTION 27
Your company has factories in 10 countries. Each factory contains several thousand IoT devices.
The devices present status and trending data on a dashboard.
You need to ingest the data from the IoT devices into a data warehouse.
Which two Microsoft Azure technologies should you use? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

QUESTION 28
What describes the Black Market Peso Exchange money laundering method?

QUESTION 29
In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?

QUESTION 30
A financial institution files a suspicious transaction report on a customer as the result of a high volume of large currency deposits to pay off a loan. A law enforcement officer calls the anti-money laundering officer to discuss the suspicious transaction report. Which of the following is the anti-money laundering officer legally permitted to do?
1. Discuss any aspects of the reported activity.
2. Provide copies of the customer’s loan documents.
3. Explain the customer’s loan payment history.
4. Send the deposit documents referenced in the suspicious transaction report.

QUESTION 31
Under requirements for correspondent accounts in the USA PATRIOT Act, the word “certification” refers to a written representation by a

QUESTION 32
The compliance officer for a bank is reviewing on-boarding documents for a new business account for a domestic corporation. The officer is unable to verify the identity of the beneficial owners of the company. Only information on the nominee owners was provided, and none of the listed addresses are local. The purpose of the business and future expected activity was disclosed to include cash letters, money orders and international remittance transfers.
Which red flag identifies a heightened money laundering risk?

QUESTION 33
Which method most likely indicates the placement stage of laundering dirty money in a land based casino?

QUESTION 34
Which two factors should increase the risk of a correspondent bank customer and require additional due diligence according to the Wolfsberg Anti-Money Laundering Principles for Correspondent Banking? (Choose two.)

QUESTION 35
To guard against acquisition or control of a financial institution by money launderers or their associates, what should supervisory agencies require?

QUESTION 36
A bank customer operates a fuel station as a sole proprietorship. The customer places deposits and other credits in a business account. The customer routinely transfers money from the business account to a brokerage account where he invests in money market securities. The customer also routinely makes monthly transfers to a credit card and line of credit to pay off balances. The volume of activity flowing through the business account has doubled in the past 3 months. An internal investigator reviews business account statements and credit card activity for the past 3 months, scans media articles about the customer, and interviews the account officer about the customer and account activity. This internal investigation did not provide an explanation for the increased activity1. Which of the following should the anti-money laundering specialist recommend to the internal investigator?

QUESTION 37
The most important concerns imposed on foreign financial institutions maintaining correspondent accounts with
U.S. banks under the USA PATRIOT Act are: