CAMS Exam Dumps | Based on the AML principles outlined by the Wolfsberg Group, what do private and correspondent banks

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Question 37/292

Based on the AML principles outlined by the Wolfsberg Group, what do private and correspondent banks have in common when monitoring for terrorist financing?

A. Numbered or alternate name accounts will only be accepted if the bank has established the identity of the client and beneficial owner.

B. Account and transactional activity are monitored after the proper identification and verification of customers.

C. Cash access from a pre-paid card increases the potential that the card will be used for money laundering purposes.

D. Transaction monitoring examines the relationship between due diligence information and account closings.

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