A retail bank has just acquired a credit card business. The bank's anti-money laundering policy requires that new employees are trained within 30 days of their hire date and refresher training is delivered to all employees on an annual basis.Is the bank's existing anti-money laundering training adequate to be delivered to employees of the newly acquired credit card business?
Why do governments and multi-national bodies impose economic sanctions?
In reviewing recent activity, a compliance officer for a money transmitter that several customers are each remitting the same amount of money but much more frequently.How should the institution respond?
In the summer, an institution identifies anti-money laundering concerns regarding a customer's account activity. The customer, an ice cream parlor, has deposited a lot of checks drawn on banks in foreign countries, sent large number of high dollar international wires to different countries, made cash deposits of a few hundred dollars every few days and written multiple checks for a few hundred dollars to the same dozen payees every two weeks.Which two transaction types warrant investigation? (Choose two.)
Which three methods are commonly used by an accountant to launder money? (Choose three.)
A customer living in a high-risk jurisdiction makes frequent, large cash deposits at a bank. The same customer sends small wire transfers to unrelated parties in other high-risk jurisdictions.What are two red flags that may indicate money laundering? (Choose two.)
