Q213. Bank A is located in Country A.
A wire transfer from Bank B located in Country B is processes by Bank A,where the funds are being moved to a customer at Bank C located in Country C.
The wire transfer isdeemed suspicious by Bank A.

Q214. Which method is used to launder money via wire remittances sent through a bureau de change or money services business?

Q215. Why do government entities around the world believe that a risk-based approach to AML/CFT compliance is a preferable prescriptive measure?

Q216. A money remittance business will most likely attract money launderers because it
1.deals primarily in cash transactions.
2.engages in international transactions.
3. conducts transactions for walk-in customers.
4.does not have to comply with transaction reporting.

Q217. Which elements can trigger a review of the existing relationship during the opening of a new account? (Select Two.)

Q218. What should senior management do in order to promote a culture of anti-money laundering compliance?

Q219. You plan to deploy two AI applications named AI1 and AI2. The data for the applications will be stored in a relational database.
You need to ensure that the users of AI1 and AI2 can see only data in each user’s respective geographic region. The solution must be enforced at the database level by using row-level security.
Which database solution should you use to store the application data?

Q220. What are two requirements for monitoring and reporting suspicious activity for correspondent banking according to the Wolfsberg Principles? (Choose two.)

Q221. When requested by law enforcement via legal process to provide records or documentation, what should the officers of financial institution do?

Q222. Which assessments are involved in the processes of mutual evaluation and follow-up by the FATF?

Q223. An organization uses an automated surveillance system that generates a very large volume of anti-money laundering alerts. The monthly volume of alerts has increased over the last year causing the compliance staff to fall significantly behind reviewing the alerts. As a result, the system settings are under review to determine if they are appropriate.
Which action should be included in the evaluation of system settings?

Q224. Money laundering can cause which consequences for a financial institution? (Select Two.)

Q225. According to the European Union Money Laundering Directives, “knowledge, intent or purpose”‘ required as an element for money laundering may be inferred from

Q226. Which Trust parties should be identified to determine the true nature of the Trust relationship according to Basel guidelines? (Choose three.)

Q227. What is the main role of the Egmont Group in combating money laundering and terrorist financing?

Q228. Under the Wolfsberg Correspondent Banking Principles, which action is considered an enhanced due diligence obligation to correspondent banking clients that present greater risks?

Q229. An anti-money laundering audit identifies a significant weakness in how transaction monitoring alerts are cleared. Audit sampling identified potentially suspicious activity that was cleared as not suspicious.
Management accepts the audit finding and develops a remediation plan.
What is the role of the auditor during the correction phase?

Q230. When and how should an institution appraise the AML risk of a newly developed product?
Choose 3 answers

Q231. An automotive parts company in South America sends multiple $500,000 wire transfers per week to ABC Holdings Ltd. in Asia referencing payment for silk flower shipments. Research reveals Sunrise Holdings, Ltd is registered in the British Virgin Islands with no available ownership information.
What are two red flags that indicate how trade-based money laundering could be occurring in this instance?
(Choose two.)

Q232. The bank’s Compliance Officer is tasked with designing standards based on Basel’s KYC principles. Which essential elements should be included in the program? (Choose two.)

Q233. In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf.
What is another name for these internal, non-client accounts?

Q234. Which transaction should result in a SAR/STR filing?

Q235. Which of the following is the most common risk with a Personal or Private Investment Company (PIC)?

Q236. What is the currency threshold under the European Union Fourth Anti-Money Laundering Directive?