A popular restaurant in town has begun depositing less cash than it has in prior years. In a review of the customer’s accounts, you notice that credit card receipts have increased with no explanation.The account officer discovers that the restaurant has installed a privately-owned automated teller machine (ATM) onsite and has begun construction of a patio dining area.Which red flag should trigger additional investigation?
Answer(s): C
An organization’s automated surveillance system identifies large fluctuations in customer activity. As a result of an audit, the compliance officer is informed that the system is not generating alerts when activity is consistently abnormal over a long period of time. Currently the organization is evaluating new alert scenarios in an attempt to address this problem.Which type of scenario is helpful in mitigating this weakness?
Upon a routine account review a money laundering investigator identified a number of large round dollar wire transfer deposits into a business account owned by a local auto repair shop. The wire transfers all originated from a country that is a known financial secrecy haven with poor anti-money laundering controls. The investigator concludes there appears to be no legitimate business purpose for the wire transfers and files a suspicious transaction report. The owner of the auto repair shop is popular in the community and is a well- known philanthropist. To whom should the investigator escalate these concerns?
Answer(s): D
A compliance officer learns from an Information Technology (IT) source of a potential new financial service being discussed by the new product approval committee.What is the correct next course of action?
Answer(s): A
What is the goal of the Egmont Group in providing a forum for Financial Intelligence Units (FIUs) around the world?
Answer(s): B
https://en.wikipedia.org/wiki/Egmont_Group_of_Financial_Intelligence_Units
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