Which two statements in the Wolfsberg Group's "Suppression of the Financing of Terrorism" define the role financial institutions should play in the fight against terrorism? (Choose two.)

• A.Financial institutions need to assist competent authorities in fighting terrorist financing through prevention, detection and information sharing.
• B.Financial institutions need to continuously analyze the types of activity related to terrorist financing and develop models that in the long term will drive down terrorism.
• C.Financial institutions should have financial intelligence units dedicated to the investigation of activity that would lead to the detection of terrorist financing as a means to decrease global terrorism.
• D.Financial institutions should apply extra due diligence whenever they see suspicious or irregular activities, especially when customers are engaged in sectors or activities that have been identified by competent authorities as being used for the financing of terrorism.

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Which red flag indicates high potential for money laundering in a real estate purchase?

• A.The purchaser is a nominee
• B.The purchaser had a previous bankruptcy
• C.The purchaser owns a cash intensive business
• D.The purchaser is not a resident where the property is located

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In establishing procedures for the review of suspicious transactions and filling of STRs, what thing should an institution focus on?

• A.The appropriateness of having a centralized review of suspicious transactions and recommendations to file an STR to ensure consistency
• B.The need not to ensure that the institution has a strong case of impropriety before filling an STR
• C.A system for tracking STRs and ensuring that appropriate supporting documentation is segregated and maintained
• D.The need to have on-going training as to potential red flags that the institution might encounter

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A bank teller receives a written request from a police officer to review a previous customer's account on a pre-populated form with the officer's official letterhead. The officer suspects the previous customer is engaging in smurfing. Which action should the bank teller perform?

• A.Provide the police officer the customer's account information after management approval.
• B.Escalate the police officer's request for the customer's account information to the compliance officer.
• C.Reject the police officer's request for the customer's account information and escalate to the compliance officer.
• D.Provide the police officer the customer's account information.

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Which of the following customers require the most enhanced due diligence?

• A.An international business corporation.
• B.A politically exposed person.
• C.A resident of a non-cooperative jurisdiction.
• D.An established customer.

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