example question of aml exam

Learn vocabulary, terms, and more with our practice exam. Please do not be blinded with this mock test. Which of the following best describes money laundering? C: The use of wire transfers from, to, and through one jurisdiction, D: The competitive and commission-driven environment. It Out, Question 10. - Proportionate-because a risk-based approach promotes a common sense and intelligent approach to fighting money laundering and terrorist financing as opposed to a "check-the-box" approach. It not only tests the candidate’s knowledge base, but also prepares him/her for the physiol… 10, Question 10 of - May be established at the operational (not executive) level of the financial institution. - The legal basis for closing an account. 14. High-quality E20-553 Exam Questions & Answers can 100% guarantee you pass the exam faster and easier. - The competitive, commission-driven environment, which, like private banking, provides ample incentive to disregard the source of client funds. - Alerts compliance to potential outliers or deviations from normal policy that may need to be reviewed. It is not subject to AML laws that require it to implement an AML program All of the above Q:8-A junior account manager within an international private bank in Country A was asked by one of his valued customers, who has held an account for several years in the institution, about depositing a large sum of cash into her account. Get to know what the SAT, PSAT/NMSQT, and PSAT 10 will be like by practicing with these sample questions. 10. - Reflects the high-level responsibilities of the stakeholders throughout the organization. - Approved by executive management or the board of directors. Social Costs to them later with the "Go To First Skipped Question" button. Ensuring that all transactions are above the $10,000 threshold so that they attract extra scrutiny, The act of selling tangible assets like boats or airplanes in order to raise cash used in illicit transactions, Using loans as collateral for other loans in a Ponzi scheme, The process of taking money that was obtained from an illicit source and engaging in behaviors designed to conceal its origin, Placing all deposits and assets outside the United States to avoid the IRS, Converting currency into bullion in order to move it without using a bank, Using illicitly obtained funds to purchase high-value real estate, Using multiple small transactions to avoid crossing the $10,000 threshold, These transactions are not consistent with a money laundering operation, A computer system with high-end security support, A designated compliance officer, continuing training, auditing, and customer identification, A CEO with at least a Master's Degree in Economics, A support staff of at least two accountants and one attorney, Keep bank customers' account information secret at all times, Make money laundering a crime that is punishable by imprisonment, Require reporting of suspected cases of money laundering seen in financial institutions to the government, The terrorist attacks on the World Trade Center in 2001, The discovery of gaps in existing anti-money laundering laws, The Financial Crimes Enforcement Network, or FinCEN, The Federal Bureau of Financial Crime Investigation, or FBFCI, The Department of Financial Scrutiny, or DFS, The Federal Agency of Terrorist Financing Prevention, or FATF. This demonstrates the power and utility of having this quick, daily study tool in your pocket at all times. 10, Question 9 of Boost your profile Now! Compliance with "Know Your Customer" guidelines and "Anti-Money Laundering" standards has become necessary for healthy financial relationships both by the banks / financial institutions in India.. ii. - The reputational risk to the institution posed by maintaining the account. Give it a shot and see how informed you are. EASA Part 66 Exam Physics (5820 Questions) Sample – Physics Exams ( 40 questions 30 min), Category A – Physics Exams (32 questions 40 min), Category B1 – Physics Exams ( 52 questions 65 min), Category B2 – Physics Exams ( 52 questions 65 min), Category B3 – Physics Exams ( 28 questions 35 min), 3. Taking it really does help. - The routine use of wire transfers to, from and through multiple jurisdictions. Reputational Risk 10, Question 2 of Bill receives $10,000 for a motorcycle, and puts the money into the bank in two separate deposits, All of these answers are examples of structuring, Bill has two paychecks direct deposited into his account; one for $6,000 and one for $5,000, Bill has $15,000 in illicitly earned money deposited into the bank in a single transaction.

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