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No.# FATF is also mentioned step by step process for De risking. Close the account only if the risk can not be mitigated.
D is the correct answer

No.# Study guide page 197&198 : Banks should not establish relationships or "conduct transactions until the customer's identity is verified". If immediate verification isn't possible, appropriate controls must be implemented while verification continues.

If a bank cannot perform Customer Due Diligence (CDD) or verify a customer's identity, it should not open the account or should close any existing accounts.

[ * close the account only if it cannot be verified , * should not conduct transaction until verified]

the answer is "D. Perform the required customer due diligence on these accounts before accepting or completing any transaction." ]

No.# D is the answer

No.# C. financial intelligence unit

No.# D. No, screening should occur promptly after list updates

No.# answer : D. There is a conflict of interest with the management of the review process

No.# Answer is 1,2&3

No.# Answer is A

No.# notify anti-money laundering specialist of his bank, but do not call the customer

No.# when talk about trust and private investment company, the first thing that comes to your mind should be transparency and privacy protection laws. :D the answer is : A. Names of the settlor and beneficiaries are not publicly available

No.# answer D

No.# answer is indeed C

No.# Answer is A

No.# wire stripping is a process " deliberate removal of key payment-related information" according to guideline.
the answer is A&C

No.# C. Peer

Study guide: Ability to conduct advanced evaluation and analysis of suspicious and
unusual transactions identified by the monitoring system in the context of
each customer’s risk profile and that of his peer group [ Page number 331]

No.# I will explain why we should choose answer C over A. Sending a notice to the customer might seem like a good course of action, but it is not part of the compliance program. When selecting an answer, it should align with the study guide. That is why answer C is more appropriate.

When there is a regulatory change, we need to update the procedure. When the procedure changes, we must provide training to the staff.

In some questions about red flags, all options may seem like red flags, but we need to choose the specific answers mentioned in the guideline to avoid losing points. Here, "Change procedures and systems as necessary and provide employee training" is the best course of action according to the guideline, rather than sending a notice to the customer.

No.# answer is D

No.# The investigation identified suspicious activity, and the teller did not file a Suspicious Activity Report, indicating no need further monitoring.

Given that the teller has been in the industry for 15 years and has attended several AML training sessions, refreshing anti-money laundering training or directing the teller to file a Suspicious Transaction Report are not appropriate actions.

Disciplinary action is required due to the teller's willful blindness. Therefore, the correct answer is C. Suspending the teller's (cashier's) employment.

No.# Answer : A. When deciding on the range of offenses to be covered as predicate offenses for money laundering, each country should define the nature and any particular elements of those offenses