Which three criteria does a shell bank meet according to the Wolfsberg Principles on Correspondent Banking?
Choose 3 answers.

• A.It does not conduct business at a fixed address in a jurisdiction in which it is authorized to conduct business.
• B.It does not employ one or more individuals at its fixed address where it is authorized to conduct business or maintain operating records at that address
• C.It is not subject to AML laws that require it to implement an AML program
• D.It is not subject to inspection by the banking authority that licensed it to conduct banking activities

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Pursuant to the Third European Union Money Laundering Directive, how long after being out of prominent office should a person NOT be considered to be a Politically Exposed Person (PEP)?

• A.2 years
• B.1 year
• C.4 years
• D.3 years

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Which response represents a high-level principle for FATF-Style Regional Bodies (FSRB)?

• A.Membership, mission, financial procedures, and budget
• B.Access to documents and assistance with meetings
• C.Dependent with different experiences to strengthen the overall effort
• D.Reciprocity for effective participation and recognition of work

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A businessman requests a European private bank to open a numbered or alternate name account. According to the Basel Committee on Banking Supervision principles, which of the following is the most important question the banker should ask?

• A.What account-opening date should I record'!'
• B.How much money will be deposited into the account?
• C.Who will control the account?
• D.Who will inherit the proceeds in the event of the businessman's death?

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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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