Review Test Anti Money Laundry questions with
accurate answers
_ _ _ are minimum standards a financial institution must follow to verify
the identify of customers at account opening Ans✓✓✓ 1.maintain
records of the info used to verify the person's identity. 2. verify the
identify of any person seeking to open account. 3. determine whether the
person appears on any lists of terrorists provided
A currency transaction report is for reporting Ans✓✓✓ any currency
transaction greater than $10,000
All of the following are essential components of a formal anti-money
laundering program under the USA PATRIOT Act Ans✓✓✓ employee
training program, independent audit function, internal compliance
officer
Financial professionals should consider Ans✓✓✓ size of transaction
relative to income 2. occupation 3. net worth
FinCen Ans✓✓✓ organization of bureau of the Treasury Department
that provides U.S policy makers with strategic analyses of domestic and
worldwide money laundering development, trends, and patterns.
List containing suspected or known terrorist organizations Ans✓✓✓
OFAC
accurate answers
_ _ _ are minimum standards a financial institution must follow to verify
the identify of customers at account opening Ans✓✓✓ 1.maintain
records of the info used to verify the person's identity. 2. verify the
identify of any person seeking to open account. 3. determine whether the
person appears on any lists of terrorists provided
A currency transaction report is for reporting Ans✓✓✓ any currency
transaction greater than $10,000
All of the following are essential components of a formal anti-money
laundering program under the USA PATRIOT Act Ans✓✓✓ employee
training program, independent audit function, internal compliance
officer
Financial professionals should consider Ans✓✓✓ size of transaction
relative to income 2. occupation 3. net worth
FinCen Ans✓✓✓ organization of bureau of the Treasury Department
that provides U.S policy makers with strategic analyses of domestic and
worldwide money laundering development, trends, and patterns.
List containing suspected or known terrorist organizations Ans✓✓✓
OFAC
