How can a financial institution verify the nature and purpose of a business and its legitimacy?

• A.By using an independent information verification process, such as by accessing public and private databases
• B.By reviewing the company's website
• C.By reviewing a copy of the corporation's latest audited reports and accounts
• D.By undertaking a company search or other commercial inquires to see that the institution has not been, or is not in the process of being dissolved of terminated

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Which trading pattern may be indicative of money laundering in capital markets?

• A.Trading on an account
• B.Remittance of a round dollar amount
• C.Free of payment asset transfer
• D.Transacting with multiple counterparties

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The USA PATRIOT Act requires United States (U.S.) financial institutions to collect certain information from non-U.S. banks that hold a correspondent account.
Which two pieces of information must a non-U.S. bank provide to its U.S. correspondent to enable them to comply with this requirement? (Choose two.)

• A.The name and address of all beneficial owners who own 25% or more of the bank
• B.Prompt notice of any suspicious activity it detects on any customer who uses the correspondent account
• C.The name and address of a U.S. person who is authorized to receive service of legal process for the bank
• D.The name and address of all shell banks the bank maintains accounts for

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How should a compliance officer respond to law enforcement agencies' request for information on a customer undergoing an investigation?

• A.Share details of the investigation with respective colleagues who deal with this customer type on a daily basis.
• B.Gather all requested documentation and send via secure email to the requesting authority.
• C.Collaborate with the financial institution's (FI's) designated department to determine the appropriate course of action to comply with the request.
• D.Freeze account assets and advise the customer that assets will not be released until the investigation has been completed

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According to the Second European Union Money Laundering Directive, what may knowledge of criminal conduct be inferred from?

• A.Subjective, factual circumstances
• B.Objective, factual circumstances
• C.Objective, non-factual circumstances
• D.Subjective, non-factual circumstances

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