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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...
Which observations at the on-site visits would justify writing a SAR/STR?
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...
Which additional information should the investigator request?
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 since 2017 for deposit and loan purposes. It acts as an offshore investment holding company. The customer declared...
Which investigative actions should the investigator take concerning the 100.000 USD wire transfer?
A financial institution (Fl) banks a money transmitter business (MTB) located in Miami. The MTB regularly initiates wire transfers with the ultimate beneficiary in Cuba and legally sells travel packages to Cuba. The wire transfers for money remittances comply with the country's economic sanctions policies. A Fl investigator on the...
Which steps are the correct ways of collecting the additional information?
During transaction monitoring. Bank A learns that one of its 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....
Which suspicious activity should the investigator identify during the review of the loan agreements?
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 since 2017 for deposit and loan purposes. It acts as an offshore investment holding company. The customer declared...
Why is it important for the casino to maintain control of the output from the provider?
Due to an ever-diversifying business model and multi-jurisdictional footprint, a casino has decided to outsource the source of funds and wealth checks to a third-party provider. Why is it important for the casino to maintain control of the output from the provider?A . Clients of the casino prefer to know...
Which steps for documenting the final investigation decision are appropriate for the investigator in this scenario?
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...
