How do drug traffickers and other criminals use the fine art industry to disguise illicit proceeds?
A. They use forged or fraudulent invoicing of priceless works of art by auction houses
B. They commingle legitimate and illicit proceeds by principals for payment of fine art
C. They immediately resell priceless works of art after purchase from a foreign auction house
D. They use anonymous agents to buy the art and have the payment wired from offshore
An anti-money laundering specialist at a large institution is responsible for information senior
management about the status of the anti-money laundering program across the organization.
Which report is the most useful?
A. The total credit exposure for non-cooperative countries and territories
B. Results of related audits and examinations
C. Details on inquires received from law enforcement
D. Notification of management changes in the different major divisions
What is most valuable when using the internet as an investigative source?
A. A team of AML investigators
B. A reference list of websites known to yield credible information
C. A combination of independent thinking and technical skil s
D. A powerful search engine
What should senior management do in order to promote a culture of anti-money laundering
A. They should include compliance with AML procedures as condition of employment
B. They should attend all training sessions with front-line employment
C. They should have close ties with the independent auditors of the AML program
D. They should base employee compensation on the amount of suspicious activity they detect
What is the result of an increased awareness of the potential for gatekeepers to assist in money
laundering in recent years?