AML CERTIFICATION ACTUAL COMPLETE EXAM|WITH
ACCURATE QUESTIONS AND VERIFIED ANSWERS|GRADED
A
Alternative Remittance System (ARS) Ans✓✓✓ Underground banking
or informal value transfer system. There is no physical movement of
currency and a lack of formality with regard to verification and record-
keeping. The money transfer takes place by coded information.
AML Program Ans✓✓✓ 1. Written Internal Policies, Procedure and
controls
2. A designated AML compliance Officer
3. On-going employee training
4. Independent review to test the program
Arrest Warrant Ans✓✓✓ A court order directing a law enforcement
officer to seize and detain a particular person and require them to
provide an answer to a complaint or otherwise appear in court.
Asian/Pacific Group on money laundering Ans✓✓✓ A Financial Action
Task Force-style regional body consisting of jurisdictions in the
Asia/Pacific Region
Asset Protection Trusts Ans✓✓✓ A special form of irrevocable trust
usually created offshore for the principal purposes of preserving and
protecting part of one's wealth from creditors. the advertise APTs as
allowing foreign trustees to ignore U.S. court orders and to simple
, transfer the trust to another jurisdiction in response to legal action
threatening the trust's assets
Bank Draft Ans✓✓✓ Vulnerable to money laundering because it
represents a reputable international monetary instrument drawn on a
reputable institution, and is often made payable in cash upon
presentation and at the issuing institution's account in another country
Bank Secrecy Act Ans✓✓✓ the primary U.S. anti-money laundering
regulatory statute, which imposes money laundering controls on
financial institutions including the requirement to report and to keep
record of various financial transaction.
Bank Secrecy Ans✓✓✓ refers to law and regulations in countries that
prohibit banks from disclosing information about an account-or even
revealing its existence-without the consent of the account holder.
Basel Committee Ans✓✓✓ The Basel Committee was established by
the G-10 central bank of governors in 1974 to promote sound
supervisory standard worldwide. it has issued papers on CDD for banks,
consolidated KYC risk management, transparency in payment messages,
due diligence and transparency regarding cover payment message
related to cross-border wire transfer , and sharing records among
jurisdictions in connection with the flight against terrorist financing
ACCURATE QUESTIONS AND VERIFIED ANSWERS|GRADED
A
Alternative Remittance System (ARS) Ans✓✓✓ Underground banking
or informal value transfer system. There is no physical movement of
currency and a lack of formality with regard to verification and record-
keeping. The money transfer takes place by coded information.
AML Program Ans✓✓✓ 1. Written Internal Policies, Procedure and
controls
2. A designated AML compliance Officer
3. On-going employee training
4. Independent review to test the program
Arrest Warrant Ans✓✓✓ A court order directing a law enforcement
officer to seize and detain a particular person and require them to
provide an answer to a complaint or otherwise appear in court.
Asian/Pacific Group on money laundering Ans✓✓✓ A Financial Action
Task Force-style regional body consisting of jurisdictions in the
Asia/Pacific Region
Asset Protection Trusts Ans✓✓✓ A special form of irrevocable trust
usually created offshore for the principal purposes of preserving and
protecting part of one's wealth from creditors. the advertise APTs as
allowing foreign trustees to ignore U.S. court orders and to simple
, transfer the trust to another jurisdiction in response to legal action
threatening the trust's assets
Bank Draft Ans✓✓✓ Vulnerable to money laundering because it
represents a reputable international monetary instrument drawn on a
reputable institution, and is often made payable in cash upon
presentation and at the issuing institution's account in another country
Bank Secrecy Act Ans✓✓✓ the primary U.S. anti-money laundering
regulatory statute, which imposes money laundering controls on
financial institutions including the requirement to report and to keep
record of various financial transaction.
Bank Secrecy Ans✓✓✓ refers to law and regulations in countries that
prohibit banks from disclosing information about an account-or even
revealing its existence-without the consent of the account holder.
Basel Committee Ans✓✓✓ The Basel Committee was established by
the G-10 central bank of governors in 1974 to promote sound
supervisory standard worldwide. it has issued papers on CDD for banks,
consolidated KYC risk management, transparency in payment messages,
due diligence and transparency regarding cover payment message
related to cross-border wire transfer , and sharing records among
jurisdictions in connection with the flight against terrorist financing
