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Which actions should the investigator recommend to mitigate risk?
An investigator is reviewing a case generated from the transaction monitoring system, with two large amounts of incoming remittance (IR) to an individual customer. Based on the KYC profile, the customer is a plant manager of a famous multi-national electronics manufacturing firm. As the customer has no similarly large transaction...
Which are the next steps the investigator should take?
The investigative department of a financial institution (Fl) receives an internal escalation notice from the remittance department for a SWIFT message requesting a refund due to potential fraud. The notice indicates that a total of three international incoming remittances were transferred to a corporate customer from Country A, in the...
What is the Fl required to do?
Law enforcement (LE) suspects human trafficking to occur during a major sporting event. LE officers asked several financial institutions (FIs) to monitor financial transactions occurring before, during, and after the event. An investigator identified a pattern linked to a business. The business' account received multiple even dollar deposits between midnight...
How should the investigator proceed in this situation"?
An analyst reviews an alert for high volume Automated Clearing House (ACH) activity in an account. The analyst's initial research finds the account is for a commercial daycare account that receives high volumes of large government-funded ACH transactions to support the programs. The account activity consists of checks (cheques) made...
An investigator at a corporate bank is conducting transaction monitoring alerts clearance.
An investigator at a corporate bank is conducting transaction monitoring alerts clearance. KYC profile background: An entity customer, doing business offshore in Hong Kong, established a banking business relationship with the bank in 2017 for deposit and loan purposes. It acts as an offshore investment holding company. The customer declared...
Which additional indicators would the investigator need to identify to determine if this fits a fentanyl (drug) trafficking typology?
During transaction monitoring. Bank A learns that one of their customers. Med Supplies 123, is attempting to make a payment via wire totaling 382,500 USD to PPE Business LLC located in Mexico to purchase a large order of personal protective equipment. specifically surgical masks and face shields. Upon further verification....
The intended benefits of section 314(b) of the USA PATRIOT Act include: (Select Three.)
The intended benefits of section 314(b) of the USA PATRIOT Act include: (Select Three.)A . sharing the existence and content of SARs/STRs with other participating FIs.B . participating FIs sharing information about suspicious activity by customers that may have otherwise gone unnoticed.C . providing mandatory results to law enforcement agencies...
Which step should the investigator take next?
A KYC specialist from the first line of defense at a bank initiates an internal escalation based on a letter of credit received by the bank. MEMO To: Jane Doe. Compliance Manager, Bank B From: Jack Brown, KYC Specialist, Bank B RE: Concerning letter of credit A letter of credit...
What steps should the investigator take to review the accounts held by the second client who is listed in the Paradise Papers?
A client with many personal and business deposits with the financial institution (Fl) seeks a business loan. The client wants to guarantee the loan with a trust for which they are the beneficiary. An investigator examines the trust. The trust has many layers, including shell companies in known tax havens....
Which statement most accurately characterizes the methods used by transnational criminal organizations?
Which statement most accurately characterizes the methods used by transnational criminal organizations?A . They are unlikely to associate with known terrorist organizations due to the reputational risks.B . They are likely to specialize in one particular method and continue to refine that method to escape detection.C . They routinely engage...
