Question 116
What should law enforcement provide when asking an institution to keep an account open?
Question 117
The anti-money laundering compliance officer for a small money transmitter has several agent locations in the same geographic area in the United States. The customers are immigrants from Country A and the majority of the funds are remitted to Country A.
In a meeting with one of the agents, it is recently discovered that two new customers have been coming in three times a week and sending funds to the same recipient in Country B. Each cash transaction always totals exactly $8,000.
What should alert the agent to possible money laundering activity by the two customers?
In a meeting with one of the agents, it is recently discovered that two new customers have been coming in three times a week and sending funds to the same recipient in Country B. Each cash transaction always totals exactly $8,000.
What should alert the agent to possible money laundering activity by the two customers?
Question 118
An anti-money laundering specialist at a financial institution has received a legal request to provide all transaction records for a specific individual since 2004. Which of the following item s should be delivered?
1. Monthly statements and transaction activities for that individual since 2004.
2. All wire transfers for that individual since 2004.
3. Signature cards from accounts opened by that individual since 2004.
4. All security trading activities for that individual since 2004.
1. Monthly statements and transaction activities for that individual since 2004.
2. All wire transfers for that individual since 2004.
3. Signature cards from accounts opened by that individual since 2004.
4. All security trading activities for that individual since 2004.
Question 119
A U.K. real estate agent has three foreign clients interested in purchasing an apartment building, valued at £30 million, in the outskirts of London as an investment property. The clients are not willing to have their names provided to the bank. The clients want to purchase to be made in the names of three private companies for privacy reasons. The plan is to wire the funds into an account held in the name of another private company at a bank in London.
Which red flag should stop the agent from discussing this potential purchase further?
Which red flag should stop the agent from discussing this potential purchase further?
Question 120
A SAR/STR should be filed when the accountable institution identifies that: