Q321. Which three methods are commonly used by an accountant to launder money? (Choose three.)

Q322. Which are characteristics of Mutual Legal Assistance Treaties (MLATs)? (Select Three.)

Q323. What correspondent banking risk factor increases the risk for a Correspondent Bank?

Q324. In establishing procedures for the review of suspicious transactions and filling of STRs, what thing should an institution focus on?

Q325. A customer brings $15,000 worth of chips into a casino and plays various games. The customer redeems all the remaining chips and requests a wire transfer of the proceeds to an unrelated third party.
What are two red flags that indicate money laundering? (Choose two.)

Q326. A New York-based lawyer is interested in purchasing a luxury condo in Manhattan listed at $30 million for a client based in the Caribbean.
The client does not want to be named on the deed and wants the purchase to be made under the name of a limited liability company (LLC). The client states that the reason for this arrangement is that he is a high level government official who is concerned about his privacy if the purchase were to be made in his name.
The funds for the purchase are to be wired from several accounts in various countries.
Which two facts lead to gathering more information about this potential client before moving forward with the transaction? (Choose two.)

Q327. Bank A is a non-United States (U.S.) bank that has $5 million in a correspondent account at a bank in New York City. The Worldwide Terrorist Syndicate (WTS) has $1 million in its account at a non-US branch of Bank A. The U.S. government has initiated forfeiture action against the WTS.
Which potential action can the U.S. take under the USA PATRIOT ACT pursuant to the issuance seizure warrant?

Q328. According to the Financial Action Task Force, as part of their risk assessment, which are important data and information that a Trust and Company Service Provider must understand when establishing and administering a trust? (Select Two.)

Q329. According to the Financial Action Task Force 40 Recommendations, Designated Non-Financial Businesses and Professionals include which entities?

Q330. Which are key objectives of the Egmont Group? (Select Two.)

Q331. What should law enforcement provide when asking an institution to keep an account open?

Q332. A government has instituted a new anti-money laundering laws which require all financial institutions to obtain certain information from its customers.
Which step should an institution located in this jurisdiction take to ensure compliance?

Q333. Which action should countries take related to the financing of terrorist acts in accordance with the Financial Action Task Force 40 Recommendations?

Q334. A large international bank has detected potentially suspicious activity in one of its customer accounts. Following an investigation, the bank has determined the activity to be typical of suspected money laundering.
To which entity should this activity be reported on a suspicious transaction report according to Financial Action Task Force?

Q335. A compliance officer of a financial institution is reviewing a payment for sanctions compliance between two parties in Europe and Asia. The payment is in Euros and involves the provision of services to a company located in a jurisdiction subject to Office of Foreign Assets Control secondary sanctions. Which factor is most important in determining the compliance officer’s response?

Q336. The bank’s Compliance Officer is tasked with designing standards based on Basel’s KYC principles. Which essential elements should be included in the program? (Choose two.)

Q337. An individual opened an account with a minimal cash deposit at a financial institution. He presented a foreign passport and stated he would be working locally for a few months. He also requested information about making electronic fund transfers. The institution was subsequently unable to verify the employment or residence information provided by the individual. Soon after this, a large transfer was sent to the customer’s account. Which of the following is the course of action recommended by the Basel Committee on Banking Supervision’s Customer Due Diligence for Banks?

Q338. Enhanced due diligence (EDD) may be bypassed for which situation?

Q339. An anti-money laundering specialist at a financial institution has received a legal request to provide all transaction records for a specific individual since 2004. Which of the following item s should be delivered?
1. Monthly statements and transaction activities for that individual since 2004.
2. All wire transfers for that individual since 2004.
3.Signature cards from accounts opened by that individual since 2004.
4. All security trading activities for that individual since 2004.