QUESTION 297
Under requirements for correspondent accounts in the USA PATRIOT Act, the word “certification” refers to a written representation by a

QUESTION 298
Which statement is true about when an institute becomes aware that a particular employee is under investigation by law enforcement as a result of a subpoena or warrant?

QUESTION 299
In the FATF 40 recommendations, the focus of AML efforts has been expanded beyond Financial Institutions. Which three businesses and/or professions are covered? Choose 3 answers

QUESTION 300
One key aspect of promoting an enterprise-wide compliance culture within a financial institution (FI) is that the:

QUESTION 301
One area of responsibility for the Board of Directors when implementing a successful AML program is to:

QUESTION 302
A large financial institution (Fl) is considering expanding business to an area of the world with weak AML laws. The risk-based assessment indicates that the location will increase the Fl’s risk appetite beyond the stated acceptable amount. Which risk factors should be used to identify the priority of the Fl?

QUESTION 303
Which three actions should employees be instructed to do during an internal investigation?

QUESTION 304
Bank A is located in Country A.
A wire transfer from Bank B located in Country B is processes by Bank A,where the funds are being moved to a customer at Bank C located in Country C.
The wire transfer isdeemed suspicious by Bank A.

QUESTION 305
According to the Financial Action Task Force, as part of their risk assessment, which are important data and information that a Trust and Company Service Provider must understand when establishing and administering a trust? (Select Two.)

QUESTION 306
An institution receives a request for credit from a local company that has been a client for many years. The information provided by the company indicates that its assets have increased substantially with the addition of several new subsidiaries. Further research performed by the institution indicates the new subsidiaries are recently created shell companies.
Could this indicate potential money laundering?

QUESTION 307
Which three elements should be considered in an institution’s enhanced due diligence process to assure itself that it has secured sufficient understanding of its higher risk respondent bank customers according to the Wolfsberg Principles on Correspondent Banking?

QUESTION 308
What should a compliance officer provide to facilitate board understanding of suspicious activity reported by an institution?

QUESTION 309
Bank A is located in Country A. A wire transfer from Bank B located in Country B is processes by Bank A,where the funds are being moved to a customer at Bank C located in Country C. The wire transfer isdeemed suspicious by Bank A.

QUESTION 310
In addition to monitoring for suspicious activity, what are electronic monitoring systems also valuable for?

QUESTION 311
An auction house dealing in fine art and antiques sells a well-known painting at a price of $12 million to an agent bidding for a group of local investors. The same painting sold ten years prior at auction for $5 million. The auction house receives payment for the painting via wire transfer from an account maintained in an offshore jurisdiction by the investor group. No beneficial ownership information is available for the account.
What are the two money laundering red flags? (Choose two.)

QUESTION 312
You have a solution that runs on a five-node Azure Kubernetes Service (AKS) cluster. The cluster uses an N- series virtual machine.
An Azure Batch AI process runs once a day and rarely on demand.
You need to recommend a solution to maintain the cluster configuration when the cluster is not in use. The solution must not incur any compute costs.
What should you include in the recommendation?

QUESTION 313
Trusts established in certain offshore jurisdictions make good vehicles to lay under money for which of the following reasons?

QUESTION 314
When and how should an institution appraise the AML risk of a newly developed product?
Choose 3 answers

QUESTION 315
The branch manager calls the compliance officer and informs her that a law enforcement officer has just left the branch and was asking a lot of question and left a business card.
What should the compliance officer do?

QUESTION 316
Which is a key characteristic of the Financial Action Task Force (FATF) Regional Style Bodies for combatting money laundering/terrorist financing?

QUESTION 317
A commission rogatory would be used in which gateway to obtain information from another country?

QUESTION 318
A customer living in a high-risk jurisdiction makes frequent, large cash deposits at a bank. The same customer sends small wire transfers to unrelated parties in other high-risk jurisdictions.
What are two red flags that may indicate money laundering? (Choose two.)

QUESTION 319
Your company develops an API application that is orchestrated by using Kubernetes.
You need to deploy the application.
Which three actions should you perform? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

QUESTION 320
What facilitates law enforcement agent obtaining evidence from authorities in a foreign country relating to criminal activity?

QUESTION 321
In reviewing recent activity, a compliance officer for a money transmitter that several customers are each remitting the same amount of money but much more frequently.
How should the institution respond?