An immigrant residing in the United States opens a bank account that includes a debit card. Several months later, the transactional monitoring system identifies small deposits into the account followed by corresponding ATM withdrawals from a country bordering a conflict zone.How should the bank respond?
Answer(s): C
A customer living in a high-risk jurisdiction makes frequent, large cash deposits at a bank. The same customer sends small wire transfers to unrelated parties in other high-risk jurisdictions.What are two red flags that may indicate money laundering? (Choose two.)
Answer(s): C,D
https://aml-cft.net/library/banks-amlcft-red-flags/
A retail bank has just acquired a credit card business. The bank’s anti-money laundering policy requires that new employees are trained within 30 days of their hire date and refresher training is delivered to all employees on an annual basis.Is the bank’s existing anti-money laundering training adequate to be delivered to employees of the newly acquired credit card business?
Answer(s): D
Which method do terrorist financiers use to move funds without leaving an audit trail?
Answer(s): B
https://www.fatf-gafi.org/media/fatf/documents/reports/FATF%20Terrorist%20Financing%20Typologies%20Report.pdf (24)
Why do governments and multi-national bodies impose economic sanctions?
https://en.wikipedia.org/wiki/Economic_sanctions
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