ANTI-MONEY LAUNDERING 4 ACTUAL COMPLETE
EXAM|WITH ACCURATE QUESTIONS AND VERIFIED
ANSWERS|GRADED A
(blank) provide a legal basis for transmitting evidence that can be used
for prosecution and judicial proceedings Ans✓✓✓ MLATs
A bank should retain outside legal counsel to conduct all investigations
Ans✓✓✓ False
A financial institution may initiate investigations in response to notable
media stories like the following, EXCEPT: Ans✓✓✓ A story about the
corporate takeover of one of its customer's companies
A financial institution should automatically freeze and then close a
customer's account following a maximum of two STR filings, provided
that there is a legal basis for closing the account Ans✓✓✓ False
All FIUs should submit requests for information in compliance with the
Principles for Information Exchange set out by the Egmont Group
Ans✓✓✓ True
All of the following are methods that law enforcement may use to
request information from a financial institution during the course of a
criminal investigation, EXCEPT Ans✓✓✓ Asking the AML Officer to
hand over all account records of the targeted suspect
, Carol has been given the responsibility of conducting an internal
investigation into a suspicious financial activity. Carol should consider
all of the following activities to carry out an effective investigation,
EXCEPT: Ans✓✓✓ File a suspicious transaction report (STR) before
commencing a thorough investigation
Diane, the AML compliance officer for a large financial institution,
uncovers a serious case of potential money laundering being conducted
through a number of related accounts. Diane should consider all of the
following factors in deciding whether or not to close the accounts,
EXCEPT: Ans✓✓✓ Whether the account holder is a close associate of
any of the members of the Board of Directors
Financial Institutions are required to have an internal reporting
mechanism by which customer-facing employee referrals of suspicious
activities are automatically routed to the appropriate investigative teams
Ans✓✓✓ False
If there is a difference in the definition of an offense, then free exchange
of information at the FIU level is not possible; in such a situation, the
FIU providing the information may deny permission to disseminate the
information. Ans✓✓✓ False
Name three ways in which an investigation should be conducted
Ans✓✓✓ Review previous related reports and trends
Inquire of the staff why the matter may be suspicious
Collect and analyze all the relevant documents pertaining to the matter
EXAM|WITH ACCURATE QUESTIONS AND VERIFIED
ANSWERS|GRADED A
(blank) provide a legal basis for transmitting evidence that can be used
for prosecution and judicial proceedings Ans✓✓✓ MLATs
A bank should retain outside legal counsel to conduct all investigations
Ans✓✓✓ False
A financial institution may initiate investigations in response to notable
media stories like the following, EXCEPT: Ans✓✓✓ A story about the
corporate takeover of one of its customer's companies
A financial institution should automatically freeze and then close a
customer's account following a maximum of two STR filings, provided
that there is a legal basis for closing the account Ans✓✓✓ False
All FIUs should submit requests for information in compliance with the
Principles for Information Exchange set out by the Egmont Group
Ans✓✓✓ True
All of the following are methods that law enforcement may use to
request information from a financial institution during the course of a
criminal investigation, EXCEPT Ans✓✓✓ Asking the AML Officer to
hand over all account records of the targeted suspect
, Carol has been given the responsibility of conducting an internal
investigation into a suspicious financial activity. Carol should consider
all of the following activities to carry out an effective investigation,
EXCEPT: Ans✓✓✓ File a suspicious transaction report (STR) before
commencing a thorough investigation
Diane, the AML compliance officer for a large financial institution,
uncovers a serious case of potential money laundering being conducted
through a number of related accounts. Diane should consider all of the
following factors in deciding whether or not to close the accounts,
EXCEPT: Ans✓✓✓ Whether the account holder is a close associate of
any of the members of the Board of Directors
Financial Institutions are required to have an internal reporting
mechanism by which customer-facing employee referrals of suspicious
activities are automatically routed to the appropriate investigative teams
Ans✓✓✓ False
If there is a difference in the definition of an offense, then free exchange
of information at the FIU level is not possible; in such a situation, the
FIU providing the information may deny permission to disseminate the
information. Ans✓✓✓ False
Name three ways in which an investigation should be conducted
Ans✓✓✓ Review previous related reports and trends
Inquire of the staff why the matter may be suspicious
Collect and analyze all the relevant documents pertaining to the matter
