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?
The compliance officer at a crowdfunding website is in charge of monitoring new crowdfunding projects. Recently, the number of crowdfunding projects has significantly increased.Which red flag indicates the highest anti-money laundering risk?
What should countries do to help prevent non-profit organizations from being abused for the financing of terrorism according to the Financial Action Task Force 40Recommendations?
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?
What is the goal of the Egmont Group in providing a forum for Financial Intelligence Units (FIUs) around the world?
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?
