How do payable through accounts (PTAs) differ from normal foreign correspondent accounts?

• A.The customers have the ability to directly control funds at the correspondent bank
• B.The customers can hide their identity through the use of cover payments in U.S. dollars
• C.The customers do not have to worry about sanctions list screening such as OFAC
• D.The customers can contact the correspondent bank directly to send wire transfers

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A new compliance officer is reviewing the bank's anti-money laundering program and notices that the risk assessment was completed six months ago. Since that time, the bank acquired another financial institution, re-named the internal records group, and streamlined cash handling procedures.
Which factor causes the compliance officer to update the bank's risk assessment?

• A.The internal records group has been re-named
• B.The cash handling procedures were streamlined
• C.The bank acquired another institution
• D.The risk assessment was completed six months ago

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In the FATF 40 recommendations, the focus of AML efforts has been expanded beyond Financial Institutions.
Which three businesses and/or professions are covered? Choose 3 answers

• A.Casinos, when customers engage in financial transactions equal to or above a designated Threshold
• B.Dealers in art, when they engage in any cash transaction with a customer at or above a designated threshold
• C.Real estate agents when they are involved in transactions for clients concerning buying and selling properties
• D.Trust and company service providers

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Which are red-flag indicators of possible money laundering through online gambling? (Choose two.)

• A.The customer uses their credit card to fund an online gambling account.
• B.The player deposits small amounts of funds into their online gambling account.
• C.The player is identified as a Politically Exposed Person (PEP).
• D.The player opens several accounts under the same name using different IP addresses.
• E.The customer logs on to the account from multiple countries.

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Which action should an FIU consider taking when it has information that might be useful to another FIU?

• A.Take no action until contacted by the other FIU
• B.Request approval from the Egmont Group prior to sharing the information with the other FIU
• C.Supply the information to the other FIU spontaneously as soon as the relevance of sharing the information is identified
• D.In accordance with Wolfsberg guidelines, submit the information to the other FIU in written form

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