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Total 860 questions

Certified Anti-Money Laundering Specialist (the 6th edition) Questions and Answers

Question 65

According to the Financial Action Task Force 40 Recommendations, to fulfill identification requirements concerning legal entities, financial institutions should take measures to verify

Options:

A.

the financial status of the legal entity through documented proof of the entity's other banking relations.

B.

a person purporting to act on behalf of the legal entity who is a resident in a country with strict secrecy laws.

C.

the legal existence and ownership structure of the legal entity.

D.

funds or trusts maintained by terrorists.

Question 66

Which activity is most likely to facilitate money laundering through on-line banking systems with inadequate controls?

Options:

A.

Conducting a large volume of transactions

B.

Providing continuous worldwide access

C.

Conducting anonymous transactions

D.

Conducting large value transactions

Question 67

What are three factors a financial institution should examine with regard to a new customer who is opening up a new account? Choose 3 answers

Options:

A.

The country or location where the customer is from or does business

B.

The type and size of the business the customer runs

C.

The legal structure of the customer’s business

D.

The previous financial institutions where the customer has banked

Question 68

What three attributes do havens for money laundering and terrorist financing typically have? Choose 3 answers

Options:

A.

Limited types of institutions and persons covered by money laundering laws and regulations

B.

Little enforcement of the laws, weak penalties or provisions that make it difficult to confiscate or freeze assets related to money laundering

C.

A large number of predicate crimes for money laundering

D.

Absence of an effective FIU

Page: 17 / 65
Total 860 questions