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Q154. A compliance officer learns from an Information Technology (IT) source of a potential new financial service being discussed by the new product approval committee.
What is the correct next course of action?

Q155. In the FATF 40 recommendations, the focus of AML efforts has been expanded beyond Financial Institutions.
Which three businesses and/or professions are covered? Choose 3 answers

Q156. In the summer, an institution identifies anti-money laundering concerns regarding a customer’s account activity.
The customer, an ice cream, has deposited a lot of checks drawn on banks in foreign countries, sent large number of high dollar international wires to different countries, made cash deposits of a few hundred dollars every few days and written multiple checks for a few hundred dollars to the same dozen payees every two weeks.
Which two transaction types warrant investigation? (Choose two.)

Q157. Which statement about U.S. Specified Unlawful Activities (SUA) is true?

Q158. An EU Trust and Company Service Provider (TCSP) analyst notices some unusual activity while looking through a customer’s financial statements and detailed general ledger. The customer is in the business of importing and exporting machineries. Which transaction indicator warrants further escalation to the compliance officer?

Q159. What should law enforcement provide when asking an institution to keep an account open?

Q160. What are three risk factors a financial institution should examine with regard to a proposed new product?

Q161. An account officer who maintains an excellent relationship with the finance manager for a correspondent bank customer learns that many records for the correspondent bank have been requested by law enforcement. In the interest of maintaining a good relationship with the customer, the account officer sets up a meeting to discuss the legal request with the customer. The account officer intends to discuss points related to the investigation during the meeting.
What should an anti-money laundering specialist recommend?

Q162. Which three statements are true regarding the extraterritorial reach of laws and legislation of the U.S.?

Q163. A money transmitter’s nation-wide agent network remits funds to a country in Africa on behalf of an immigrant community based in the United States. A terrorist group is known to operate openly in this African country. In reviewing transaction records, the compliance officer detects a pattern where two customers together visit the same agent each week and remit the same amount of funds. $2,500, to the same recipient in the country in Africa.
What should alert the compliance officer to possible money laundering or terrorist financing activity by the two customers?

Q164. To deter money laundering through new accounts, a financial institution should:

Q165. According to the Financial Crimes Enforcement Network, after an initial suspicious activity report has been filed for a customer, a financial institution must perform a continuing review of the account for a period of how many days?

Q166. In which three situations is correspondent banking most vulnerable to money laundering? Choose 3 answers

Q167. A local law enforcement officer, who is conducting a criminal investigation, requests information about a customer.
Which two actions should the bank take? (Choose two.)

Q168. Which statement best describes a key aspect of the AML Directive of the EU regarding business relationships and transactions with high-risk third countries?

Q169. A financial institution located within the European Union has historically allowed anonymous accounts.
Which of the following is the best method for this institution to use to ensure compliance with the European Union Money LaunderingDirectives?

Q170. An anti-money laundering specialist is employed by a large multi-national bank. The bank is planning to open an international department that will be responsible for expanding services to various countries. The head of the new international department has asked the specialist to assess risks associated with the bank’s expansion plans. Which of the following materials should be included as a reference?
1. USA PATRIOT Act
2. Financial Action Task Force 40 Recommendations
3. Customer Due Diligence for Banks issued by the Basel Committee on Banking Supervision
4. The Egmont Group Statement of Purpose

Q171. You need to recommend a data storage solution that meets the technical requirements.
What is the best data storage solution to recommend? More than one answer choice may achieve the goal.
Select the BEST answer.

Q172. Money laundering can cause which consequences for a financial institution? (Select Two.)

Q173. Which transaction monitoring processes would alert a bank for red flag activity?

Q174. Pursuant to the Third European Union Money Laundering Directive, how long after being out of prominent office should a person NOT be considered to be a Politically Exposed Person (PEP)?

Q175. You are designing an AI solution that will provide feedback to teachers who train students over the Internet.
The students will be in classrooms located in remote areas. The solution will capture video and audio data of the students in the classrooms.
You need to recommend Azure Cognitive Services for the AI solution to meet the following requirements:
* Alert teachers if a student seems angry or distracted.
* Identify each student in the classrooms for attendance purposes.
* Allow the teachers to log the text of conversations between themselves and the students.
Which Cognitive Services should you recommend?

Q176. An incoming urgent international wire transfer in U.S. dollars has been identified by the sanctions screening team. The transaction is a large rounded amount and the name of the beneficiary is “North Korean Cigars Company” with an address in an industrial zone in Tianjin, China.
Which action should the sanctions team take?