Why can Trusts pose a higher risk from a financial crime perspective?

• A.The trustee can use a trust in order to commit financial crime.
• B.They can be used to mask the true owner and actual business purpose.
• C.There is no major risk from a financial crime perspective? they are legitimate business instrument and that's why they are legal all around the world including in the United States, and Europe.
• D.They are in a physical paper form and ownership is controlled by the person who possesses the physical paper in hand.

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When is comes to Enhanced Due Diligence (EDD) regulators require you to do a perfect job on the client.

• A.TRUE.
• B.FALSE.

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Secondary identification is often used to cross-verify the primary form of identification and to cross-verify information provided by the customer.
What is an example of secondary identification? (SELECT 2)

• A.Online Registry.
• B.Utility Bill.
• C.Audited Statements.
• D.Articles of Incorporation.

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What is the Primary legislation for Money Laundering in the United States?

• A.Money Laundering and Financial Crimes Strategy Act (1998)
• B.Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act)
• C.Anti-Drug Abuse Act of 1988
• D.Money Laundering Control Act of 1986
• E.Bank Secrecy Act (1970)

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Which documents rates countries based on their money laundering controls and corruption? (SELECT 2)

• A.Transparency International's Corruption Perceptions Index
• B.Financial Action Task Forces red flags related to jurisdiction risk
• C.Transparency International's Corruption Perceptions Index
• D.US State Department's annual International Narcotics Control Strategy Report
• E.United Nations report on Money Laundering Controls

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