Why do organized crime groups often use front companies? (Choose two).
Which private banking situation requires due diligence actions to be implemented according to the AML principles of the Wolfsberg group?
An international bank is headquartered in Madrid, Spain, with an office in New York City (NYC), US. The Madrid office is investigating a transaction originating from a customer of the NYC office and inquires whether the NYC office can share any relevant further information on the individual. Upon further research, the NYC office finds that they have filed a Suspicious Activity Report (SAR) on the individual in the previous year.
Which factors need to be considered before sharing the requested information? (Select Two.)
Which two steps should a financial institution take when it receives a law enforcement request to keep an account open that may be associated with suspicious or criminal activity? (Choose two.)