How should a financial institution respond to a verbal request from a law enforcement agency to keep an account open to assist in an investigation?

• A.Agree to keep the account open
• B.Request a subpoena to maintain the account
• C.Request a letter on the agency's letterhead
• D.Request a search warrant from the local court

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Which is a key reason why a financial institution (FI) conducts an enterprise-wide AML risk assessment?

• A.The board of directors and senior management are required to have an AML risk assessment for the bank.
• B.The need to understand its overall budget needs for each department and for internal audit.
• C.The need to assess money laundering and terrorist financing risks and ensure there are adequate controls to mitigate those risks.
• D.The identification of specific risk categories (i.e., export, inactivity, layman, and false locations) unique to the bank.

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