AML EXAM 2 Questions With 100% Correct Answers

AML EXAM 2 Questions With 100% Correct Answers FATF fulfills its stated objectives by monitoring implementation of the FATF Recommendations among its members through what - answerCompliance assessment and effectiveness assessment Which is true: 1. Egmont membership comprises national FIUs 2. Wolfsberg membership comprises central bank governors of G10 3. EU recommends legislation to be passed in member countries 4. Basel Committee levies fines on the member countries for non-compliance - answerEgmont Group membership comrpises national FIUs All of the following are valid FATF 40R except: 1. International cooperation and economic sanctions 2. Money laundering and confiscation 3. financial and non-financial preventative measures 4. powers and responsibilities of competent authorities and other institutional measures - answerinternational cooperation and economic sanctions Which is not true about OFAC: 1. imposition of economic and trade sanctions based on US foreign policy 2. freezing or blocking foreign assets of persons and organizations under US jurisdiction 3. imposition of significant penalties on those who are found to be in violation of the blocking orders within each of the sanction programs 4. restriction of travel by US citizens to certain countries based on sanctions lists that OFAC issues periodically - answerrestriction of travel by US citizens to certain countries based on sanctions lists that OFAC issues periodically Which USA PATRIOT Act section prohibits business with shell banks? - answerSection 313