Which of the following reflect money laundering risk indicators in relation to a securities account? 1. A high level of activity in that securities account immediately followed by a high volume of securities transactions. 2. Frequent wire transfers into an account immediately followed by debit card transactions. 3. Frequent wire transfers into an account immediately followed by checks (cheques) or other payment instruments drawn on the account.
A businessman requests a European private bank to open a numbered or alternate name account. According to the Basel Committee on Banking Supervision principles, which of the following is the most important question the banker should ask?
Which of the following competent authorities should directly receive suspicious or unusual transaction reports? Questions and Answers PDF 59/148
An offshore company is owned by four equal partners that reside in separate jurisdictions. One partner presents an authenticated power of attorney apparently executed by the remaining three partners in his favor and requests that a bank account be opened on behalf of all partners. He needs this done quickly because there is a large deposit pending. The account -opening officer contacts the bank's anti -money laundering officer for advice. Which of the following should the anti -money laundering officer advise as an initial step?
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.
A bank account is established for a new business customer. The business was established five years ago with an address in another state. The business website contains few details other than stating it is a real estate business. One principal has an international telephone number and appears to be living in another country. The other principal works out of a recreational vehicle. What warrants enhanced due diligence in this scenario?
