According to the Financial Action Task Force, which action must a financial institution take to fulfill customer due diligence obligations?
The product department of an insurance company proposes launching aspecial life insurance productwith investment elements that allow clients toinstruct payments to unknown third partiesvia partner financial institutions. The product department seeksfast-track approvalfrom compliance to ensure quick market launch.
What is the best course of action from a compliance perspective?
Which of the following are considered best practices for effective AML/CFT training programs? (Select Three.)
Anewly appointed senior money laundering reporting officer (MLRO)at adigital bankhas been instructed toimplement an effective AML transaction monitoring system.
What areimportant considerationsfor selecting and implementing the AML system? (Select Two.)