CGSS Exam Complete questions and
correct verified answers (detailed
answers) already graded A+
Which of the following describes multiple countries working together to block
trade and issue embargoes against another country? - {✔✔ RESOLUTION
RESULT VERIFIED ✔✔}Multilateral sanctions
Which of the following is a government's exercise of its authority beyond its
geographical boundaries? - {✔✔ RESOLUTION RESULT VERIFIED ✔✔}-
Extraterritoriality
An SDN deposits US funds into his bank account in Germany with a German bank.
The German bank maintains a nostro account with a US financial institution in
New York. The funds may be subject to forfeiture according to which 2001 US
law? - {✔✔ RESOLUTION RESULT VERIFIED ✔✔}-The USA PATRIOT Act : BSA
Section 311 of the USA PATRIOT Act directs the Treasury to designate a financial
institution or jurisdiction as being of "primary money laundering concern" based
on numerous jurisdictional and institutional factors, including the extent to which
the institution is used to facilitate or promote money laundering
,an account that a bank keeps for itself in a bank in another country, usually in that
country's currency
Which of the following is the most common type of sanctions imposed by one
nation upon another?
Trade - {✔✔ RESOLUTION RESULT VERIFIED ✔✔}-Trade
mposing trade sanctions that limit the target country's exports or restrict its
imports
Concealing the final destination or transhipment: The shipping route is abnormal
for the product or the destination.
What was significant about the 2017 case of Access USA Shipping LLC? -
{✔✔ RESOLUTION RESULT VERIFIED ✔✔}-Access USA set up an internal
straw buyer to help a client evade sanctions.
Access also offered a "personal shopper" program. In this scheme, the company
presented an Access employee to the US companies from which goods were
purchased. Access falsely claimed that the employee was actually the buyer.
When sellers expressed concerns or reluctance to sell to foreign buyers, Access
falsely presented an employee as the end user. In effect, Access set up a straw
buyer for a fee. The company made these purchases in the name of Eric Baird,
who was then CEO of Access
Another way of concealing the final destination of goods happens when sanctions
evaders use an agent or straw buyer in an unsanctioned jurisdiction.
, Concealing an End User's Identity
The sanctions evader may use a straw buyer in another jurisdiction to buy the
merchandise and then complete a separate shipment or purchase after the export
has occurred. • The evader may falsify the name of the purchaser or end user to
avoid detection. • The evader may falsely state the purpose or intended use of
the item in purchase orders, transport documentation, and other documents
related to the transaction
KEY TAKEAWAYS • This case illustrates the importance of truly knowing a
customer. Had the US companies done thorough due diligence when selling to
Access or any of their foreign customers, they would have discovered the nature
of the warehouse and likely uncovered the third-party nature of the shipping
arrangement. • In spite of detailed export regulations, documentation
requirements, licensing, and so on, those determined to flout the regulations will
find a structure that allows them to do so, even if only for a limited time. • Any
business engaged in trade must conduct thorough due diligence, particularly if the
business trades in any controlled merchandise
What was significant about the Technopromexport case? -
{✔✔ RESOLUTION RESULT VERIFIED ✔✔}-The case involved a state-owned
company concealing the final destination of goods.
known the violation of contract terms was possible—unless Siemens did not
perform sufficient due diligence on its buyer. • Siemens had no ability to force
compliance with the contract once the goods had been delivered
Since Technopromexport is state-owned, its actions are likely to fall in line with
those of the Russian government. Therefore, Siemens should have
correct verified answers (detailed
answers) already graded A+
Which of the following describes multiple countries working together to block
trade and issue embargoes against another country? - {✔✔ RESOLUTION
RESULT VERIFIED ✔✔}Multilateral sanctions
Which of the following is a government's exercise of its authority beyond its
geographical boundaries? - {✔✔ RESOLUTION RESULT VERIFIED ✔✔}-
Extraterritoriality
An SDN deposits US funds into his bank account in Germany with a German bank.
The German bank maintains a nostro account with a US financial institution in
New York. The funds may be subject to forfeiture according to which 2001 US
law? - {✔✔ RESOLUTION RESULT VERIFIED ✔✔}-The USA PATRIOT Act : BSA
Section 311 of the USA PATRIOT Act directs the Treasury to designate a financial
institution or jurisdiction as being of "primary money laundering concern" based
on numerous jurisdictional and institutional factors, including the extent to which
the institution is used to facilitate or promote money laundering
,an account that a bank keeps for itself in a bank in another country, usually in that
country's currency
Which of the following is the most common type of sanctions imposed by one
nation upon another?
Trade - {✔✔ RESOLUTION RESULT VERIFIED ✔✔}-Trade
mposing trade sanctions that limit the target country's exports or restrict its
imports
Concealing the final destination or transhipment: The shipping route is abnormal
for the product or the destination.
What was significant about the 2017 case of Access USA Shipping LLC? -
{✔✔ RESOLUTION RESULT VERIFIED ✔✔}-Access USA set up an internal
straw buyer to help a client evade sanctions.
Access also offered a "personal shopper" program. In this scheme, the company
presented an Access employee to the US companies from which goods were
purchased. Access falsely claimed that the employee was actually the buyer.
When sellers expressed concerns or reluctance to sell to foreign buyers, Access
falsely presented an employee as the end user. In effect, Access set up a straw
buyer for a fee. The company made these purchases in the name of Eric Baird,
who was then CEO of Access
Another way of concealing the final destination of goods happens when sanctions
evaders use an agent or straw buyer in an unsanctioned jurisdiction.
, Concealing an End User's Identity
The sanctions evader may use a straw buyer in another jurisdiction to buy the
merchandise and then complete a separate shipment or purchase after the export
has occurred. • The evader may falsify the name of the purchaser or end user to
avoid detection. • The evader may falsely state the purpose or intended use of
the item in purchase orders, transport documentation, and other documents
related to the transaction
KEY TAKEAWAYS • This case illustrates the importance of truly knowing a
customer. Had the US companies done thorough due diligence when selling to
Access or any of their foreign customers, they would have discovered the nature
of the warehouse and likely uncovered the third-party nature of the shipping
arrangement. • In spite of detailed export regulations, documentation
requirements, licensing, and so on, those determined to flout the regulations will
find a structure that allows them to do so, even if only for a limited time. • Any
business engaged in trade must conduct thorough due diligence, particularly if the
business trades in any controlled merchandise
What was significant about the Technopromexport case? -
{✔✔ RESOLUTION RESULT VERIFIED ✔✔}-The case involved a state-owned
company concealing the final destination of goods.
known the violation of contract terms was possible—unless Siemens did not
perform sufficient due diligence on its buyer. • Siemens had no ability to force
compliance with the contract once the goods had been delivered
Since Technopromexport is state-owned, its actions are likely to fall in line with
those of the Russian government. Therefore, Siemens should have
