A politically exposed person (PEP) maintains an account at a bank. Last month a money laundering analyst filed a suspicious transaction report about unusual wire deposits originated by unknown individuals in the home country of the official. Recently a negative news search revealed political corruption in the home country of the official.To whom should this situation be escalated?
A bank is preparing for its anti-money laundering independent review, which is performed every two years under the direction of the compliance officer. The bank's corporate audit department will conduct the review. The compliance officer will review the final report before it is released to the Board of Directors.What is the issue with this situation?
A bank operates in multiple countries and offers a variety of products and services. The compliance officer recently joined the bank and wants to better understand the inherent level of anti-money laundering risk across the entire organization.Which two factors should be considered? (Choose two.)
Financial Action Task Force (FATF)-style regional bodies are created and obliged to understand the inherent money laundering and terrorist financing risks in the region of the world they serve.What is one of the methods they use to understand these risks?
A bank's anti-money laundering section receives an anonymous tip that a customer might be engaging in possible money laundering.Which two facts should be considered during the course of an investigation into this matter? (Choose two.)
Which insurance product is particularly vulnerable to money laundering?
