A new AML Officer for a US-based money service business (MSB) is drafting procedures around types of activity that require further review. Which should be included? (Choose two.)

• A.A customer visiting multiple branches of the MSB on the same day in order to transfer funds internationally.
• B.A customer buying several money orders totaling over $10,000 USD using debit card on the same day using government-issued identification.
• C.A customer sending funds to a family member living in a high-risk jurisdiction that is subject to civil unrest.
• D.A customer buying multiple money orders for $250 totaling $2,000 USD.
• E.A customer attempting to buy money orders under $3,000 USD in cash multiple times a day.

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Which trading pattern may be indicative of money laundering in capital markets?

• A.Free of payment asset transfer
• B.Remittance of a round dollar amount
• C.Trading on an account
• D.Transacting with multiple counterparties

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Which two individuals are ordinarily beneficial owners of a private banking account according to the Wolfsberg Anti-Money Laundering Principles for Private Banking? (Choose two.)

• A.Those two are authorized signers on the account
• B.Those who have legal title to a controlling share interest in the customer
• C.Those who generally have ultimate control through ownership or other means over the funds in the account
• D.Those who are the ultimate source of funds for the account and whose source of wealth should be subject to due diligence

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A bank sells reloadable open-loop prepaid cards to both customers and non-customers.
What is a red flag associated with these cards that may indicate money laundering?

• A.A non-bank customer consistently uses the bank to obtain cash advances using a prepaid card.
• B.A non-bank customer regularly loads large amounts of cash onto several prepaid cards.
• C.A bank customer routinely purchases five prepaid cards in small even-dollar amounts on a monthly basis.
• D.A bank customer historically purchases several prepaid cards near year-end.

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Which situations would require a financial institution (FI) to update its ML/TF risk assessment? (Choose two.)

• A.When new products, services or customer types are introduced
• B.When new board members are elected
• C.When the AML compliance team hires new employees
• D.When the institution faces a merger or acquisition
• E.When opening a sales point in a new location in the same city

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