Question: 1
What are some red flags financial institutions should be aware of when trying to verify the identity of a customer? Choose 3 answers
Question: 2
A compliance officer is looking to modify procedures covering correspondent banking relationships. Which three would be recommended under the Wolfsburg Principles on Correspondent Banking? Choose 3 answers
Question: 3
Why would a credit card account likely not be used in the placement stage of money laundering?
Question: 4
What is a major money laundering risk associated with a number of prepaid cards as opposed to credit or debit cards?
Question: 5
An audit completed the previous week revealed that a private banking customer submitted incomplete documents when establishing an account earlier m the year. The customer received weekly electronic fund transfers from a narcotic-producing jurisdiction. While the relationship manager who opened the account is on leave for 5 weeks, the customer requests that the institution remit a substantial sum to a country that represents a high risk of money laundering. The relationship manager is a friend of the anti-money laundering specialist. What should the anti-money laundering officer do first?
