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Question 187/374

A key element required to ensure an anti-money laundering compliance program is effectively embedded into an institution's culture is

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Question List (374q)
Question 1: A financial institution's (Fl's) policy is to apply enhanced...
Question 2: A bank maintains a relationship with a customer who owns a s...
Question 3: The Basel Committee on Banking Supervision published guideli...
Question 4: Which test should be included in a bank's Office of Foreign ...
Question 5: When should a financial institution (FI) exit a relationship...
Question 6: A suspicious transaction report filed on a car dealer struct...
Question 7: Which three elements should be considered in an institution'...
Question 8: Which red flags could indicate increased terror financing an...
Question 9: A recruitment manager in the human resources department of a...
Question 10: What should countries do to help prevent non-profit organiza...
Question 11: What are two requirements for monitoring and reporting suspi...
Question 12: Which primary international authoritative body designates sa...
Question 13: What is the primary action a financial institution should ta...
Question 14: Which of the following is a red flag indicating potential mo...
Question 15: Trusts established in certain offshore jurisdictions make go...
Question 16: An international bank is headquartered in Madrid, Spain, wit...
Question 17: Which three entities does the Third European Union Money Lau...
Question 18: What do Financial Action Task Force (FATF)-style regional bo...
Question 19: An existing customer has changed its business scope and juri...
Question 20: Which three are the most commonly used risk criteria?...
Question 21: According to Basel Committee on Banking Supervision's Custom...
Question 22: A bank in an offshore jurisdiction approaches an institution...
Question 23: The Wolfsberg Principles for Private Banking list circumstan...
Question 24: According to FinCEN, which red flags within a bank account m...
Question 25: Which red flags could indicate increased terrorist financing...
Question 26: A company is endorsing the execution of terrorism through di...
Question 27: A law enforcement agency is reviewing a suspicious transacti...
Question 28: Which information should be gathered as part of enhanced due...
Question 29: According to Basel Committee guidelines, which level of the ...
Question 30: The branch manager notices that a number of customers come i...
Question 31: Which requirement is included in the Fourth European Union D...
Question 32: When an existing customer becomes a politically exposed pers...
Question 33: A bank account is established for a new business customer. T...
Question 34: Three individuals enter a casino and use cash to purchase ch...
Question 35: According to the Financial Action Task Force 40 Recommendati...
Question 36: When an institution receives a document request from law enf...
Question 37: Which of the following scenarios warrants enhanced due dilig...
Question 38: Which of the following is the most likely reason for the Fin...
Question 39: The marketing department presents to an anti-money launderin...
Question 40: What should an effective anti-money laundering training prog...
Question 41: What action should a bank CEO's assistant take when the bank...
Question 42: Which method do terrorist financiers use to move funds witho...
Question 43: What does the Basel Committee's Customer Due Diligence for B...
Question 44: In May 2002, the Wolfsberg Principles on Private Banking wer...
Question 45: Bank A is located in Country A. A wire transfer from Bank B ...
Question 46: The AML investigator is reviewing the transaction monitoring...
Question 47: Which step should financial institutions take when complying...
Question 48: Under which two circumstances may law enforcement be given a...
Question 49: Which suspicious activity may be the strongest indicator of ...
Question 50: A recent anti-money laundering audit revealed several regula...
Question 51: Which of the following competent authorities should directly...
Question 52: A compliance officer is conducting a review of the automated...
Question 53: Which type of sanctions are most likely to be used in order ...
Question 54: An AML analyst at a bank is investigating cases triggered by...
Question 55: According to the Financial Action Task Force 40 Recommendati...
Question 56: According to the Financial Action Task Force, as part of the...
Question 57: A credit institution has been served with a preliminary find...
Question 58: A compliance officer was recently reviewing transactional da...
Question 59: Which is an extraterritorial function of Office of Foreign A...
Question 60: Which two statements in the Wolfsberg Group's "Suppression o...
Question 61: What is a tool governments and multi-national bodies can use...
Question 62: When a government imposes economic sanctions on a target, th...
Question 63: An anti-money laundering consultant audits a bank's current ...
Question 64: How should a compliance officer respond to law enforcement a...
Question 65: On discovering employees had unintentionally provided assist...
Question 66: Under the USA PATRIOT Act, in which scenario would the US no...
Question 67: Under the Egmont Group Principles, information exchange amon...
Question 68: What kind of person should perform the independent testing o...
Question 69: A client opens a bank account for a multi-level marketing co...
Question 70: Which of the following are risk factors a financial institut...
Question 71: What is the term for trading through multiple accounts, wher...
Question 72: A commission rogatory would be used in which gateway to obta...
Question 73: The most effective tool used to detect structured transactio...
Question 74: Which method is used to launder money in casinos?...
Question 75: A bank located in New York has identified suspicious transac...
Question 76: An institution has made the decision to exit a client relati...
Question 77: Which method to launder money through deposit-taking institu...
Question 78: Which activities conducted by a lawyer could be a red flag f...
Question 79: What are two requirements of United States financial institu...
Question 80: The USA PATRIOT Act requires United States (U.S.) financial ...
Question 81: To understand if the customer operates in line with the firm...
Question 82: A financial institution (FI) is conducting a complex investi...
Question 83: A student contacts a real estate broker to view a home but c...
Question 84: A bank teller receives a written request from a police offic...
Question 85: Why are Money Services Business (MSBs) frequently accused of...
Question 86: Which is an indicator that there is an attempt to conceal a ...
Question 87: A bank in the Netherlands has been requested to share inform...
Question 88: Which operational situation might indicate that money launde...
Question 89: Which three procedures should a compliance officer looking t...
Question 90: Which of the following activities are considered money laund...
Question 91: The new compliance officer has reviewed the bank's anti-mone...
Question 92: A European Union (EU) bank has a correspondent banking relat...
Question 93: What are two requirements with respect to supporting documen...
Question 94: An AML compliance officer receives notice of government upda...
Question 95: After a FATF mutual evaluation process, which are resulting ...
Question 96: Which activities could be considered a potential spear phish...
Question 97: Which is a key goal of EU Directives on money laundering?...
Question 98: An internal investigation log is primarily intended to:...
Question 99: Based on studies executed by the Organization for Economic C...
Question 100: A high volume of incoming wire transfers generates an alert ...
Question 101: According to the Financial Action Task Force (FATF) methodol...
Question 102: A non-US bank is implementing a sanctions compliance program...
Question 103: Which trading pattern may be indicative of money laundering ...
Question 104: A customer has held an account at a bank and has lived local...
Question 105: How should a financial institution deter money laundering th...
Question 106: Which of the following is among the Financial Action Task Fo...
Question 107: An anti-money laundering specialist has just developed and i...
Question 108: When using virtual assets such as Bitcoin to finance terrori...
Question 109: What is a primary responsibility of a financial intelligence...
Question 110: An anti-money laundering specialist at a large institution i...
Question 111: Which section of the USA PATRIOT Act permits the U.S. govern...
Question 112: Which statements describe risks that are associated with int...
Question 113: A foreign bank maintains a correspondent account in the US. ...
Question 114: A U.S. bank recently received a regulatory order to remediat...
Question 115: The compliance officer for a private bank has been tasked wi...
Question 116: A law enforcement action alleged that, over the course of tw...
Question 117: Why is the Mutual Legal Assistance Treaty (MLAT) a gateway f...
Question 118: An anti-money laundering specialist notes a significant redu...
Question 119: Which assessments are involved in the processes of mutual ev...
Question 120: A Financial Intelligence Unit (FIU) in a country has receive...
Question 121: According to the Financial Action Task Force 40 Recommendati...
Question 122: Which information must a United States financial institution...
Question 123: The manager of a bank's KYC team discovers that a high-risk ...
Question 124: What should senior management do in order to promote a cultu...
Question 125: What are the regulatory risks to a bank employee who willful...
Question 126: Which of the following are the most suspicious transaction i...
Question 127: What is an essential element of Know Your Customer (KYC) sta...
Question 128: What is the most effective criterion for determining the ben...
Question 129: The branch manager calls the compliance officer and informs ...
Question 130: Which principles of the Egmont Group of Financial Intelligen...
Question 131: Which method to finance terrorism involves falsifying transa...
Question 132: Potential indicators of money laundering associated with Tru...
Question 133: A U.S. bank recently received a regulatory order to remediat...
Question 134: Under requirements for correspondent accounts in the USA PAT...
Question 135: A financial institution is reorganizing and the anti-money l...
Question 136: Which product is considered to be of highest money launderin...
Question 137: An oil exploration company based in France does business wit...
Question 138: Sanctions screening requirements include that a financial in...
Question 139: Which measure to mitigate risk does the Basel Committee's Cu...
Question 140: A legal instrument that is executed between two nations and ...
Question 141: Before providing suspicious activity report documentation to...
Question 142: What is the relationship between the EU Anti-Money Launderin...
Question 143: A financial institution has expanded its scope of services s...
Question 144: Upon filing a suspicious transaction report, which of th€ f...
Question 145: A Financial Intelligence Unit (FIU) in a country receives a ...
Question 146: An internal review of anti-money laundering training documen...
Question 147: A client is a wholesale auto business that operates as a use...
Question 148: According to the Basel Committee, customer acceptance, custo...
Question 149: A compliance analyst has recently investigated an account wh...
Question 150: What correspondent banking risk factor increases the risk fo...
Question 151: Which statement about a multinational institution's ability ...
Question 152: To ensure that an institution's anti-money laundering progra...
Question 153: The local manager of a remote mortgage origination departmen...
Question 154: Which action by a prospective customer during the account op...
Question 155: The AML compliance officer of a financial institution (Fl) h...
Question 156: An anti-money laundering specialist has been hired by an ind...
Question 157: A high-volume dealer of precious metals and stones in a high...
Question 158: Which elements can trigger a review of the existing relation...
Question 159: Which payment method for purchasing luxury items is a red fl...
Question 160: What indicates potential money laundering activity by a lawy...
Question 161: A charity has unaudited accounts. Which of the following rep...
Question 162: What should an employee do after witnessing suspicious activ...
Question 163: The bank's internal financial intelligence unit (FIU) has re...
Question 164: Which step should financial institutions take when complying...
Question 165: A country that does not have strong predicate offenses and i...
Question 166: A bank received a subpoena regarding one of its clients. The...
Question 167: Which of the following corporate structures present a higher...
Question 168: When an institution files an STR with regard to a particular...
Question 169: Which of the following customer activities poses the highest...
Question 170: A customer has held an account at a local credit institution...
Question 171: Which two factors assist a money laundering investigation th...
Question 172: A bank provides trade financing for a company whose primary ...
Question 173: Why do governments and multi-national bodies impose economic...
Question 174: How should a financial institution respond to a verbal reque...
Question 175: When performing a risk assessment, which factors should be c...
Question 176: According to the Basel Committee on Banking Supervision, ban...
Question 177: Which three conduits for moving terrorist-related funds do t...
Question 178: Law enforcement is conducting an investigation of a financia...
Question 179: An EU Trust and Company Service Provider (TCSP) analyst noti...
Question 180: Which statement is the most accurate in describing who must ...
Question 181: A country that does not have strong predicate offenses and i...
Question 182: How can a 'free-look provision' as part of a life insurance ...
Question 183: A banker in the credit department wants to assess the risk o...
Question 184: A new business opened an account at a bank. After a month of...
Question 185: Which three criteria does a shell bank meet according to the...
Question 186: Which statement about the extraterritorial reach of U.S. law...
Question 187: A key element required to ensure an anti-money laundering co...
Question 188: A financial institution accepts new on-line customers. After...
Question 189: A financial institution opens a mortgage loan for a customer...
Question 190: The Office of Foreign Assets Control requirements have an ex...
Question 191: What are two risks to institutions for violating anti-money ...
Question 192: Money laundering red flags associated with money service bus...
Question 193: A money remittance business will most likely attract money l...
Question 194: Which of the following statements is true regarding the 2012...
Question 195: Which two methods have terrorist groups used to diversify th...
Question 196: A non-U.S. bank asks its U.S. correspondent whether there is...
Question 197: What is a core function of a Financial Intelligence Unit (FI...
Question 198: The owner of a real estate investment company deposits multi...
Question 199: Which is the first valid step in the Mutual Legal Assistance...
Question 200: According to the Basel Committee on Banking Supervision stan...
Question 201: What is a method of placement that can be used by a money la...
Question 202: A compliance officer is reviewing the activity of the wire t...
Question 203: Separating illicit proceeds from their source by a series of...
Question 204: What should a financial institution (FI) do in response to a...
Question 205: FATF recommends the incorporation of some measures in custom...
Question 206: Financial Intelligence Units (FIUs) are responsible for:...
Question 207: Which situation would require enhanced due diligence be perf...
Question 208: What is an indicator of suspicious activity?...
Question 209: A Financial Intelligence Unit (FIU) in a country has receive...
Question 210: Which action does the Financial Action Task Force (FATF) rec...
Question 211: A client who owns a swimming pool company requests to open 1...
Question 212: What describes the Black Market Peso Exchange money launderi...
Question 213: Which type of formal agreement occurs between countries that...
Question 214: Which statement is true regarding the Financial Action Task ...
Question 215: Which is a FATF characteristic used to assess a country's ef...
Question 216: UN sanctions are the most effective and legitimate non-viole...
Question 217: What is an example of a legal risk a financial institution (...
Question 218: Which statement about U.S. Specified Unlawful Activities (SU...
Question 219: A customer's registered business activity is a domestic carp...
Question 220: Historically, a tour guide has made monthly cash deposits av...
Question 221: What is the importance of a risk-based approach (RBA) and bu...
Question 222: Which actions are involved when a prosecutor instructs a ban...
Question 223: A corporate services provider in a European Union (EU) count...
Question 224: A law enforcement agent is conducting an investigation into ...
Question 225: Which two steps should a financial institution take when it ...
Question 226: According to recommendations from the Financial Action Task ...
Question 227: In order to demonstrate commitment to AML compliance within ...
Question 228: A high-profile, successful entrepreneur has been a client of...
Question 229: A bank's transaction surveillance system triggers an alert f...
Question 230: A popular restaurant in town has begun depositing less cash ...
Question 231: Which of the following employee behaviors would not trigger ...
Question 232: A compliance officer of a financial institution is reviewing...
Question 233: Which is a valid extraterritorial effect of the USA PATRIOT ...
Question 234: According to the Basel Committee principles, which actions w...
Question 235: Which scenario best justifies why a customer's account might...
Question 236: A businessman requests a European private bank to open a num...
Question 237: Typical events to identify and investigate potential AML act...
Question 238: What are three potential issues for foreign financial instit...
Question 239: Which two factors should increase the risk of a corresponden...
Question 240: At a minimum, who should receive role-specific AML training?...
Question 241: Which is the first valid step in the Mutual Legal Assistance...
Question 242: Who meets the standard to perform the AML audit? (Select Two...
Question 243: Which of the following statements best describes the role of...
Question 244: A company contracts a life insurance policy with a savings f...
Question 245: A compliance officer identifies a potentially significant ri...
Question 246: What is a major economic consequence of money laundering thr...
Question 247: An AML analyst at a financial institution is examining an al...
Question 248: Why should a financial institution (Fl) require an update of...
Question 249: An account officer who maintains an excellent relationship w...
Question 250: When providing reporting of STRs to the board, which of the ...
Question 251: How does the Financial Action Task Force (FAT F) measure the...
Question 252: A financial institution recently purchased anti-money launde...
Question 253: Which insurance product is particularly vulnerable to money ...
Question 254: According to the 5th EU Money Laundering Directive, member s...
Question 255: In the summer, an institution identifies anti-money launderi...
Question 256: To ensure compliance with economic sanctions established by ...
Question 257: According to the Financial Action Task Force Special Recomme...
Question 258: An example of an external factor that will affect an organiz...
Question 259: Which section of the USA PATRIOT Act permits the U.S. govern...
Question 260: What is the currency threshold under the European Union Four...
Question 261: A customer of a bank is an established art dealer. Within th...
Question 262: A startup virtual currency exchange has registered as a mone...
Question 263: A United States (U.S.) bank was recently alerted by law enfo...
Question 264: Which section of the USA PATRIOT Act relates to forfeiture o...
Question 265: Which risks are involved in a correspondent banking client's...
Question 266: A customer living in a high-risk jurisdiction makes frequent...
Question 267: During an ongoing investigation into a client's activities b...
Question 268: A Trust and Company Service Provider (TCSP) providing servic...
Question 269: Which red flag is most relevant to money laundering through ...
Question 270: The regulators of a US financial institution find that the i...
Question 271: What are the rules imposed by the Office of Foreign Assets C...
Question 272: Which type of sanctions are likely to be used first in order...
Question 273: Gatekeepers, including accountants, can be well-positioned t...
Question 274: An international bank is investigating a payment requested b...
Question 275: Which two channels can be utilized during a cross-border mon...
Question 276: A branch manager for a small community bank has a new custom...
Question 277: Which scenario should be escalated as potentially suspicious...
Question 278: What does the Egmont Group's support for its members include...
Question 279: Which are red-flag indicators of possible money laundering t...
Question 280: A compliance officer provides an overview of the bank's anti...
Question 281: In addition to monitoring for suspicious activity, what are ...
Question 282: According to the Financial Action Task Force, which action m...
Question 283: A new compliance officer is reviewing the bank's anti-money ...
Question 284: Which changes at a financial institution (FI) should trigger...
Question 285: What are the roles of a government Financial Intelligence Un...
Question 286: Which are social/economic consequences of money laundering? ...
Question 287: Who bears the ultimate responsibility for approving a financ...
Question 288: A legal instrument executed between two nations governing cr...
Question 289: According to Basel Committee on Banking Supervision guidelin...
Question 290: An institution is about to release a new peer to peer (P2P) ...
Question 291: What is a key objective of the Egmont Group?...
Question 292: According to experts, what is the most effective way to prev...
Question 293: When performing an investigation, which key steps should be ...
Question 294: During a law enforcement investigative interview regarding p...
Question 295: The main purpose of the US Treasury Department for OFAC's ex...
Question 296: An agent of a wealthy individual from a high-risk country (a...
Question 297: A financial institution is designing an Enterprise-Wide Risk...
Question 298: Cybersecurity risk can result in identity theft by:...
Question 299: A junior account manager within an international private ban...
Question 300: Which factors specific to the securities industry increase t...
Question 301: What action does the USA PATRIOT Act allow the US government...
Question 302: Which three methods are commonly used by an accountant to la...
Question 303: According to the Financial Action Task Force methodology, wh...
Question 304: Which is the most severe consequence for a financial institu...
Question 305: Which activity would require an update to the first line tra...
Question 306: Which of the following is the financial stage of money laund...
Question 307: What should a bank do if it suspects one of its employees ma...
Question 308: Pursuant to the Third European Union Money Laundering Direct...
Question 309: One area of responsibility for the Board of Directors when i...
Question 310: Which key aspect of the Office of Foreign Assets Control's e...
Question 311: An AML specialist at a financial institution is presented wi...
Question 312: An auction house dealing in fine art and antiques sells a we...
Question 313: A foreign politically exposed person (PEP) requests to add a...
Question 314: Which scenario indicates potential money laundering activity...
Question 315: What is the appropriate compliance control for identifying p...
Question 316: Section 319(a) of the USA PATRIOT Act:...
Question 317: A law enforcement agency is conducting an investigation of a...
Question 318: Which suspicious activity may be the strongest indicator of ...
Question 319: How should law enforcement obtain documentation from an inst...
Question 320: A compliance officer at a large financial institution has be...
Question 321: Which principles should be included in a FATF-Style Regional...
Question 322: In accordance with Financial Action Task Force (FATF) standa...
Question 323: Which product type is subject to US extra-jurisdictional rea...
Question 324: A foreign bank's compliance officer receives a request for i...
Question 325: Normal account-opening procedures reveal a customer who cont...
Question 326: A director of a financial institution was convicted of laund...
Question 327: Money laundering can cause which consequences for a financia...
Question 328: Transfers of money over the last 6 months to a corporation i...
Question 329: A large financial institution (Fl) is considering expanding ...
Question 330: What are the most effective measures that can be taken to bo...
Question 331: What does designing a country as being of "prime money laund...
Question 332: The findings of an internal audit discover that a large grou...
Question 333: According to the European Union Money Laundering Directives,...
Question 334: Which of the following reflect money laundering risk indicat...
Question 335: Financial Action Task Force (FATF)-style regional bodies are...
Question 336: Which are common types of economic sanctions? (Choose three....
Question 337: When should new business products to evaluated for AML conce...
Question 338: What are two aspects of the Wolfsberg Anti-Money Laundering ...
Question 339: The board of directors receives notice from the primary regu...
Question 340: Which actions should be taken by a financial institution (FI...
Question 341: Which does the USA PATRIOT Act stipulate for foreign banks c...
Question 342: What reputational risk consequence could a financial entity ...
Question 343: a personal banking customer who simultaneously opens several...
Question 344: Which reputations risk consequence could a financial entity ...
Question 345: Which accurately describes the social and economic impacts o...
Question 346: Upon a routine account review a money laundering investigato...
Question 347: The bank's Compliance Officer is tasked with designing stand...
Question 348: Which unusual or suspicious activity by a financial institut...
Question 349: Which statements relate to the mandate, roles, and responsib...
Question 350: When should the anti-money laundering risk assessment be upd...
Question 351: An employee in a corporation's finance department hears news...
Question 352: A compliance officer for a casino may suspect money launderi...
Question 353: Which step should be taken to understand the types of financ...
Question 354: An anti-money laundering specialist has just developed and i...
Question 355: An anti-money laundering specialist has been asked to create...
Question 356: In which two ways does a government Financial Intelligence U...
Question 357: Who has the ultimate responsibility within a bank for ensuri...
Question 358: The Financial Action Task Force (FATF) routinely publishes a...
Question 359: Which are red flags indicating potential engagement of a ban...
Question 360: What was the topic the Wolfsberg Group's first guidance addr...
Question 361: When must a United States (U.S.) bank block or reject an int...
Question 362: The compliance department receives an internal referral that...
Question 363: A local law enforcement officer, who is conducting a crimina...
Question 364: Which is a red flag for funds transfers?...
Question 365: The Basel Committee on Banking Supervision issued a paper in...
Question 366: Which practices should financial institutions (FIs) adopt fo...
Question 367: After several months of research, the Director of Marketing ...
Question 368: Which factors should lead to a reassessment of the current A...
Question 369: Which activity is most likely to facilitate money laundering...
Question 370: When may Office of Foreign Assets Control (OFAC) sanctioned-...
Question 371: A prospective client walks into an accounting firm wanting t...
Question 372: Which of the following best describes the Basel Committee on...
Question 373: According to the Second European Union Money Laundering Dire...
Question 374: Which is a key reason why a financial institution (FI) condu...