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The appropriate controls that should be put in place to mitigate and reduce them with the risk based approach include? (SELECT 3)
The appropriate controls that should be put in place to mitigate and reduce them with the risk based approach include? (SELECT 3)A . Accurate B. Appropriate C. Risk based D. Assertive E. SpecificView AnswerAnswer: A,C,E
An organization when faced with the below must report which?
An organization when faced with the below must report which?A . If you have a bad feeling about the client but haven't looked at the information, this is still ok. B. Every customer should be investigated for financial crime C. If they suspect a financial crime has been committed. D....
The percentage and types of alerts that become cases will vary based on institution type, client base, jurisdiction, etc? (TRUE OR FALSE)
The percentage and types of alerts that become cases will vary based on institution type, client base, jurisdiction, etc? (TRUE OR FALSE)A . True B. FalseView AnswerAnswer: A Explanation: There is no standard alert-to-suspicious activity ratio is discussed in the book
During the investigation period of a Transaction Monitoring alert, What are some examples of reliable information that can be used for the investigation?
During the investigation period of a Transaction Monitoring alert, What are some examples of reliable information that can be used for the investigation?A . Older published date B. Industry Recognized C. Reputable D. Biased.View AnswerAnswer: B,C
John has reached out to the client asking for a Formal I.D in the periodic reassessment after an alert caused the KYC file to be refreshed. The client has email back a copy of their drivers licence, Is this acceptable?
John has reached out to the client asking for a Formal I.D in the periodic reassessment after an alert caused the KYC file to be refreshed. The client has email back a copy of their drivers licence, Is this acceptable?A . Yes B. No C. DependsView AnswerAnswer: C Explanation: Depends...
An insurance firm needs appropriate policies and procedures to prevent money laundering?
An insurance firm needs appropriate policies and procedures to prevent money laundering?A . Yes B. No C. Depends on the JursidictionView AnswerAnswer: A
Designated non-financial businesses and professions are risk for Financial Crime because?
Designated non-financial businesses and professions are risk for Financial Crime because?A . They can collude with criminals to disguise financial crime B. Not all Designated non-financial businesses and professions are high risk C. These industries are accepting and exchanging cash on a often case? D. These industries and professions are...
Is this registry viable from an investigation standpoint?
Bill finds a registry for a company he is looking for. He later finds out that it is not government registry and that one must pay to use this registry. Is this registry viable from an investigation standpoint?A . Yes B. No C. DependsView AnswerAnswer: B
In Transaction Monitoring what are some reasons below that shows that over time the number of True Alerts will improve for a Transaction Monitoring system? (SELECT 2)
In Transaction Monitoring what are some reasons below that shows that over time the number of True Alerts will improve for a Transaction Monitoring system? (SELECT 2)A . Transaction Monitoring software companies update their software B. Revising Rules C. Evaluating Alert Productivity D. Improved training for AML AnalystsView AnswerAnswer: B,C
What is a legal reason to use a shell company
What is a legal reason to use a shell companyA . Common legal structure B. Transfer Assets Easily C. Avoid Tax D. Fluid and not secure.View AnswerAnswer: B,C
