Findings from a regulatory examination report states that the job descriptions of personnel outside of the compliance department do not include references to anti- money laundering responsibilities.Which action should the firm take?
What must be materially true regarding transactions for United States (U.S.) sanctions laws to have jurisdiction?
How does the Financial Action Task Force (FATF) communicate its findings regarding jurisdictions with strategic anti-money laundering / Counter Financing ofTerrorism deficiencies?
A recent anti-money laundering audit revealed several regulatory reporting violations and lapses with the organization's anti-money laundering policy. As a result, the compliance officer has created a follow-up matrix to document progress in correcting the identified deficiencies.To whom should the compliance officer provide regular updates of corrective action to help ensure the appropriate oversight?
A corporate services provider in a European Union (EU) country has a prospect from an African country who deals in oil and gas. The prospect intends to develop an oil terminal in his home country with a $75 million dollar loan secured by a third party, which is a trust formed in a Caribbean island with a holding company based in a European secrecy haven. A young lady is presented as an ultimate beneficial owner who has gained her wealth through a fitness studio in her home country.What are two red flags that could indicate money laundering or financing terrorism? (Choose two.)
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?
