Which scenario should be escalated as potentially suspicious activity?

• A.A convenience store makes daily deposits or withdrawals primarily in cash.
• B.A corporate account deposits large checks and wire transfers on a frequent basis from existing customers.
• C.A domestic business account receives a wire transfer from an international business with no history of such activity or business needs.
• D.A retail chain deposits cash into several operating accounts and consolidates the funds into one account.

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A bank is preparing for its anti-money laundering independent review, which is performed every two years under the direction of the compliance officer. The bank's corporate audit department will conduct the review.
The compliance officer will review the final report before it is released to the Board of Directors.
What is the issue with this situation?

• A.Independent reviews must be performed annually
• B.The review must be performed by a group outside of the bank
• C.There is a conflict of interest with the management of the review process
• D.The final report must be presented directly to the board of directors

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A financial institution in a jurisdiction with currency reporting thresholds is undergoing a branch office compliance review. A large number of currency transactions in amounts exceeding a reporting threshold were discovered without a currency transaction report (CTR) being filed. The transactions were handled by the same teller (cashier). This teller (cashier) was recently hired and had not received anti-money laundering training yet. The branch manager received daily exception reports of all large currency transactions as well as a report of all CTR filings. Which of the following should the compliance officer recommend as the initial action?

• A.An audit should be conducted for cash transactions since the last compliance review.
• B.Terminate the teller's (cashier's) employment prior to the expiration of the probation period.
• C.The teller's (cashier's) employment should be suspended with pay pending appropriate training.
• D.The branch manager should be formally reprimanded for failing to ensure proper instruction was given.

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Which of the following competent authorities should directly receive suspicious or unusual transaction reports?

• A.central bank
• B.financial intelligence unit
• C.law enforcement
• D.an independent judge

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A bank has maintained an account for a European charity for several years. The charity provides clothing to persons in need in various countries with active terrorists' cells.
Which action by the charity indicates possible terrorist financing?

• A.The charity frequently withdraws cash from the bank
• B.The charity has branch locations located in various countries
• C.The charity maintains a bank account for non-business-related expenses
• D.The charity receives cash donations primarily from European countries

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