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?

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.)A . When an intermediary introduces...

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Which two factors should increase the risk of a correspondent bank customer and require additional due diligence according to the Wolfsberg Anti-Money Laundering Principles for Correspondent Banking? (Choose two.)

Which two factors should increase the risk of a correspondent bank customer and require additional due diligence according to the Wolfsberg Anti-Money Laundering Principles for Correspondent Banking? (Choose two.)A . The customer is located in a Financial Action Task Force member country and provides services primarily to a local individual customer.B . The customer...

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What are the regulatory risks to a bank employee who willfully violates anti-money laundering laws?

What are the regulatory risks to a bank employee who willfully violates anti-money laundering laws?A . Investigation and reputational damageB . Fines and suspension from the industryC . Criminal investigation and imprisonmentD . Enforcement actions including fines against the financial institution View Answer Answer: C Explanation: Reference: https://books.google.com.pk/books?id=qKLr7IdWCqsC&pg=PA9&lpg=PA9&dq=What+are+the+regulatory+risks+to+a+bank+employee+who+willfully+violates+anti-money+laundering+laws&source=bl&ots=gZzA0Ey5nB&sig=ACfU3U29fq8lwYh08XqdR1X7sWSISySPZw&hl=en&sa=X&ved=2ahUKEwiHwKHTjIvmAhWqwzgGHfW_AToQ6AEwC3oECAkQAQ#v=onepage&q=What%20are%20the %20regulatory%20risks%20to%20a%20bank%20employee%20who%20willfully%20violates%20anti­money%20laundering%20laws&f=false...

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Which two statements in the Wolfsberg Group’s “Suppression of the Financing of Terrorism” define the role financial institutions should play in the fight against terrorism? (Choose two.)

Which two statements in the Wolfsberg Group’s “Suppression of the Financing of Terrorism” define the role financial institutions should play in the fight against terrorism? (Choose two.)A . Financial institutions need to assist competent authorities in fighting terrorist financing through prevention, detection and information sharing.B . Financial institutions need to continuously analyze the types...

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