According to the Basel Committee principles, which actions would make a customer identification program at a bank more robust? (Select Two.)

• A.Verifying the identity of a customer with reputable online source documentation
• B.Understanding why a customer has selected a particular financial institution for banking
• C.Limiting the online activities of a new customer during the first two months
• D.Understanding the nature and purpose behind a new business opening an account at the bank

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The law enforcement agency (LEA) of a foreign jurisdiction contacts a financial institution (FI) regarding one of the FI's clients. The LEA advises that the client is currently wanted for prosecution as a result of a series of human trafficking charges.
What should the FI do? (Select Two.)

• A.Comply immediately with the foreign jurisdiction and turn over all client information
• B.Review the client's activity, determine if suspicious activity exists, and report accordingly
• C.Advise the LEA that the government needs to be contacted for extradition
• D.Inform local LEA and regulator of the request for awareness
• E.Close the client's accounts immediately to avoid any undue risk

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Which of the following are common indicators of possible money laundering within the securities industry?
(Choose two.)

• A.Using brokerage accounts like deposit accounts
• B.Receiving securities into an existing brokerage account following the death of a spouse
• C.Allowing fixed income securities to mature
• D.Engaging in transactions involving nominees or third parties

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Which regulatory bodies cooperate when dealing with cross-border suspicious or unusual financial activity investigations?

• A.European Commissions
• B.Wolfsberg Groups
• C.Financial Intelligence Units
• D.Financial Action Task Forces

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Which statement best describes a key money laundering risk associated with virtual asset service providers (VASPs), cryptoassets, and related products?

• A.Cryptoassets can be transferred across borders quickly, but the volatility of their value still makes them less attractive for money laundering compared to traditional assets
• B.Mandatory reporting requirements have been implemented for certain types of crypto transactions, but gaps in regulation and enforcement still leave room for money laundering activities.
• C.The transparency of blockchain technology helps law enforcement trace transactions, but it can also provide criminals with ways to obscure their financial activities through complex layering techniques.
• D.The pseudonymous nature of transactions allows criminals to hide their identities while transferring large sums of money globally, making it difficult to trace the ultimate beneficial owner.

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