A quarterly review is conducted on a retail customers account at a bank located in a jurisdiction with currency reporting thresholds. A number of large deposits of financial instruments drawn on other institutions in amounts under thresholds were noted. This activity did not fit the accounts historical profile. A suspicious transaction report will most likely be filed if what also occurred?

• A.The customer has defaulted on a large loan with the bank
• B.The deposited financial instruments were sequentially numbered
• C.Four deposits were made during this period that exceeded the thresholds
• D.The customer purchased financial instruments exceeding the threshold on three occasions

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Which three criteria does a shell bank meet according to the Wolfsberg Principles on Correspondent Banking?
Choose 3 answers.

• A.It is not subject to inspection by the banking authority that licensed it to conduct banking activities
• B.It does not employ one or more individuals at its fixed address where it is authorized to conduct business or maintain operating records at that address
• C.It is not subject to AML laws that require it to implement an AML program
• D.It does not conduct business at a fixed address in a jurisdiction in which it is authorized to conduct business.

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A non-U.S. bank wants to open an account at Bank A, which is a U.S.-based bank.
Which information must Bank A obtain under the USA PATRIOT Act?

• A.The structure and identity of the management team at the non-U.S. bank
• B.The identity of owners and percentage of ownership of the non-U.S. bank
• C.A complete client list from the non-U.S. bank
• D.The details of the non-U.S. bank's anti-money laundering compliance training program

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The branch manager calls the compliance officer and informs her that a law enforcement officer has just left the branch and was asking a lot of questions and left a business card.
What should the compliance officer do?

• A.Require the branch manager to write a detailed memo about the request
• B.File a suspicious transaction report
• C.Follow up to verify that the officer received all necessary information
• D.Verify that the reported officer was an actual authorized representative

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An anti-money laundering specialist has been asked to create internal anti-money laundering policies, procedures and controls for a recently chartered offshore financial institution.
Which three should be included? Choose 3 answers

• A.A training program for senior management and staff
• B.An anti-money laundering compliance program, internal audit program, and procedure manual
• C.Compliance requirement of host and charting countries
• D.Basel Committee on Banking Supervision's capital adequacy requirements for the host country

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