Why do governments and multi-national bodies impose economic sanctions?

• A.To impede kleptocracy
• B.To enforce foreign policy objectives
• C.To combat an imminent terrorist threat
• D.To prevent fraudulent international trade transactions

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The findings of an internal audit discover that a large group of employees do not know how to handle Politically Exposed Persons (PEPs). Which is the next course of action that should be taken?

• A.Create a company-wide training program.
• B.Revamp the compliance program to better identify PEPs.
• C.Ensure all new-hire individuals have in-depth knowledge of PEPs.
• D.De-risk all PEPs from the financial institution (FI) to ensure compliance.

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A new business opened an account at a bank. After a month of activity, the account is referred to AML Investigations for potential human trafficking activity.
Which red flags most likely triggered the referral?(Select Two.)

• A.Trade in large volumes conducted with countries that are part of the diamond pipeline
• B.Several cash deposits along the country's border that are quickly withdrawn by third parties _ Multiple purchases of virtual currency at or just below the reporting threshold
• C.Several lodging and food payments made on the same day at unusual hours for a business
• D.Conducting the businesses transactions online without visiting a branch

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A bank employee recently opened an account for a new restaurant. Daily cash deposits over a three-month period are close to $9,500.
What are two red flags that indicate possible money laundering or terrorist financing? (Choose two.)

• A.The restaurant is located in a different city
• B.It is a new account that has daily cash deposits
• C.The daily cash deposits are so close in amount
• D.The new account demonstrates a steady flow of income

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Which does the USA PATRIOT Act stipulate for foreign banks concerning correspondent banking?

• A.US banks that maintain correspondent accounts for foreign banks must keep identification records of foreign bank owners with 50% or more ownership in the bank
• B.A subpoena issued to a foreign bank that maintains a correspondent account in the US can require the bank to submit any records except for records in a foreign jurisdiction.
• C.The US federal banking agency can require foreign banks to produce records or information related to any account opened in the US or other countries.
• D.Illicit funds deposited with a foreign bank can be seized by the US government by confiscating the same amount of funds deposited in a correspondent account in the US.

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