Q103. What is a method of placement that can be used by a money launderer in a deposit taking institution?

Q104. To ensure compliance with economic sanctions established by governmental authorities in the jurisdictions where it operates, a financial institution requires that all new and existing customers be screened at onboarding and quarterly thereafter.
Is this step sufficient to ensure compliance?

Q105. the Financing of Terrorism (CFT)]
Which key aspect of the Office of Foreign Assets Control’s extraterritorial reach specifically relates to prohibited transactions?

Q106. What is the primary action a financial institution should take before formulating its anti-money laundering program?

Q107. In the summer, an institution identifies anti-money laundering concerns regarding a customer’s account activity. The customer, an ice cream, has deposited a lot of checks drawn on banks in foreign countries, sent large number of high dollar international wires to different countries, made cash deposits of a few hundred dollars every few days and written multiple checks for a few hundred dollars to the same dozen payees every two weeks.
Which two transaction types warrant investigation? (Choose two.)

Q108. A United States (U.S.) bank was recently alerted by law enforcement of an increase in sale of large denomination U.S. bank notes to casas de cambio. They suspect that a Mexican syndicate is operating a money laundering scheme in the bank’s jurisdiction.
Which two steps should be taken to trace funds through the bank to assist law enforcement in their investigation? (Choose two.)

Q109. A financial institution opens a mortgage loan for a customer. During a subsequent internal review of the loan, it was noted that the appraisal used to support the loan was performed by an appraiser who was not on the institution’s approved appraiser list. This exception was approved by the senior loan underwriter. The reviewer, who had examined other loans from the same general area, noted that the value on the loan appeared significantly higher than on other comparable properties. Which of the following should the anti-money laundering specialist recommend next?

Q110. After evaluating recent changes to international standards, an anti-money laundering specialist should consider enhanced due diligence on accounts held by:

Q111. Whichred flagscould indicateincreased terror financing and money laundering risksrelated tocultural objects? (Select Three.)

Q112. A long-term client of an insurance company makes changes to a policy that require payment of an additional lump sum. The amount payable is high, though within the client’s means based on the KYC information collected. The payment is made via a company in another jurisdiction that is known to have lax AML controls. Which indicator of suspicious activity is present?

Q113. A compliance officer provides an overview of the bank’s anti-money laundering program to a group of new tellers during employee orientation.
Which training element should be delivered to this audience?

Q114. Which aspect of the USA PATRIOT Act impacts foreign financial institutions?

Q115. Combating the Financing of Terrorism (CFT)]
A relationship manager in a bank has had a private banking customer for 10 years. The customer has business accounts and investments and seeks advice on the creation of a company overseas. The relationship manager refers the customer to the commercial banking manager and vouches for the customer. Which of the following risk factors is the most important?

Q116. To deter money laundering through new accounts, a financial institution should:

Q117. Which transaction monitoring processes would alert a bank for red flag activity?

Q118. the Financing of Terrorism (CFT)]
When under aregulator’s consent orderor similar action, who at an organization isultimately accountable for the remediation ofany violations of AML/CFT laws and regulations?

Q119. Which three should real estate agents include in the criteria to assess their company’s potential money laundering and terrorist financing risks when implementing a reasonable risk-based approach?

Q120. In general, what is an element that a financial institution or business does not have to specifically address in an anti-money laundering program?

Q121. OFAC-issued regulations apply to which entities? (Choose two.)

Q122. What is an aspect of the USA PATRIOT Act that has extraterritorial reach?

Q123. Separating illicit proceeds from their source by a series of complex financial Transactions designed to disguise the audit trail and provide anonymity is an example of what?

Q124. Which is an extraterritorial function of Office of Foreign Assets Control sanctions?

Q125. In order to protect investigative materials from disclosure when conducting an internal Investigation of any employee of a financial institution, legal counsel of that financial should ____________?