Q271. How does the Financial Acton Task Force (FATF) communicate its findings regarding jurisdictions with strategic anti-money laundering / Counter Financing of Terrorism deficiencies?

Q272. Which are primary purposes of Financial Action Task Force {FATF)-Style Regional Bodies? (Select Two.)

Q273. What national agency is responsible for analyzing and assessing the information it receives to substantiate possible existence of money laundering or terrorist financing activities?

Q274. Which assessments are involved in the processes of mutual evaluation and follow-up by the FATF?

Q275. A company service provider in Country A sets up a corporate structure for a client from Country B, which is known for corruption. The corporate structure includes a holding company in Country A with a bank account in one of the international banks located there.
During on-boarding, the client’s wealth was estimated at $7 million. Shortly thereafter, the client’s father became president of Country
B. During a routine client review two years later, it was identified that client’s wealth had grown to $510 million.
What are two red flags that indicate money laundering or financial terrorism? (Choose two.)

Q276. A close relative of a privately-owned bank’s senior manager requests to open an account. Because of this relationship, the staff expedites the opening of the account without following established account-opening procedures. Applying the Basel Committee on Banking Supervision principles, which of the following poses the highest operational risk?

Q277. A bank operates in multiple countries and offers a variety of products and services. The compliance officer recently joined the bank and wants to better understand the inherent level of anti-money laundering risk across the entire organization.
Which two factors should be considered? (Choose two.)

Q278. Which statement identifies one of the duties of a government Financial Intelligence Unit?

Q279. A retail bank has just acquired a credit card business. The bank’s anti-money laundering policy requires that new employees are trained within 30 days of their hire date and refresher training is delivered to all employees on an annual basis.
Is the bank’s existing anti-money laundering training adequate to be delivered to employee of the newly acquired credit card business?

Q280. What action should a bank CEO’s assistant take when the bank CEO expenses large sums of money to a charitable organization run by the bank CEO’s direct family member?

Q281. A prospective AML officer comes highly recommended by a bank’s up-stream correspondent institution of similar size and make-up, located in a different city in the same country. The bank is interested in hiring the individual. What should be the next step taken by the Board of Directors?

Q282. How does the Asian/Pacific Financial Action Task Force <FATF>-Style Regional Body help its members implement recommendations from the FATF? (Select Two.)

Q283. The compliance officer for a private bank has been tasked with writing a policy on how the bank will deal with intermediaries.
Which two aspects should be included in the policy in respect of intermediaries to align it with the Wolfsberg Anti-Money Laundering Principles for Private Banking? (Choose two.)

Q284. Which situation is the highest risk fr money laundering and terrorist financing activity?

Q285. Which of the following is the main reason Internet gambling is an ideal web-based money laundering method?

Q286. A compliance officer is developing an anti-money laundering program for a financial institution located in a Financial Action Task Force member country. The institution conducts business with customers located in countries/jurisdictions that are not members of Financia Action Task Force. Which of the following issues should be addressed in the program?

Q287. How should a financial institution deter money laundering through new accounts? Choose 3 answers

Q288. Which elements can trigger a review of the existing relationship during the opening of a new account? (Select Two.)

Q289. Which factor should a bank consider before sharing information about a customer with its broker-dealer affiliate in the case of an investigation?

Q290. 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.)

Q291. Law enforcement submitted a request to a bank for information regarding one of its customers.
How should the bank respond according to Financial Action Task Force Guidance?