An anti-money laundering specialist at a financial institution has received a legal request to provide all transaction records for a specific individual since 2004. Which three items should be delivered?

• A.Monthly statements and transaction activities for that individual since 2004
• B.All wire transfer for that individual since 2004
• C.All security trading activities for that individual since 2004
• D.Signature cards from accounts opened by that individual since 2004

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Which three circumstances are indicators for defining a customer as required additional diligence according to the Wolfsberg Principles on Private Banking? Choose 3 answers

• A.Persons engaged in business activities known to be susceptible to money laundering
• B.Persons who receive funds from a correspondent banking relationship
• C.Persons residing in a having funds from countries with inadequate AML standards
• D.Persons determined to be Politically Exposed Persons (PEPs)

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Which action should financial institutions with cross border correspondent banking activity be required to perform according to the Financial Action Task Force 40 Recommendations?

• A.Gather a list of their politically exposed customers
• B.Identify natural persons who own or control more than 5%
• C.Obtain senior management approval before establishing the relationship
• D.Obtain a third party independent review of the respondent's anti-money laundering program

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A bank located in Arizona is considering a loan application for a new client. The collateral for the loan is a property in Florida.
The loan will be in the name of a limited company (LLC) whose ownership is not disclosed to the bank. The LLC was established by a New York-based attorney.
The loan will be repaid by the LLC in monthly wire transfers of $9,000 which is more than the required monthly payment.
Which aspect indicates potential for money laundering?

• A.The repayment in the amount of $9,000 indicates potential structuring
• B.The LLC's ownership is not disclosed to the bank
• C.The collateral, a property in Florida, is not located in Arizona
• D.The attorney associated with the account is outside the bank's lending area

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Which type of transactions present the highest risk?

• A.Foreign exchanges
• B.Payroll payments
• C.Wire transfers from a publicly listed company
• D.Social insurance payments

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