AML life insurance

When opening a new account, Amy, the AML compliance officer of ABC securities, let's compare the new clients name with a list of special designated Nationals. Where is the list of SDNS maintained?

OFAC

Which of these maintains a list of specially designated nationals?

OFAC

Jose possesses funds from illegal activities and is making a deposit into his account at a security's brokerage firm. Jose is engaging in rich of the following illegal activities

Placement

Which of these is considered to be the foundation of all anti-money laundering legislation?

The bank Secrecy Act of 1970

Wayne is an AML compliance officer for an insurance company. Before submitting a sar, Wayne

does not need proof that illegal activity has occurred

Emily is a registered representative with ABC brokerage firm. She knows is that a client has been transferring funds in and out of different accounts both within Emily's firm and in and out of accounts at other brokerage firms. Emily should

report this to her AML compliance officer because it may be an indication that the client is engaged in the money laundering layering phase.

As an AML compliance officer, Mary must be on the watch for all of these potential elements in money laundering scheme except

A Securities account with consistently routine activity.

As the anti-money laundering compliance manager for a brokerage firm must be constantly alert to possible layering transactions. All of these are examples of layering transactions except

A cash deposit of 9500 to avoid the necessity of a CTR.

Which of these should raise Kelseys awareness of a potential suspicious activity??

All of these to raise Kelly's awareness.

Rolfe possesses funds from illegal activities and is making. A deposit into his account at a securities brokerage firm. Rolfe is engaging in which of the following illegal activities?

Placement

Greg, an insurance agent, suspects that a client has engaged in a suspicious activity. All of the following are to except

Greg must file SAR

Robert is a personal banker for the ABC Bank trust company. It is difficult to fulfill his responsibilities of initial enforcement of anti-money laundering controls because

Have a responsibility to develop a personal relationship with his clients and increase their deposits with the bank

John and Karen own a pizza business and have been combining funds from a friend's drug-trafficking activities with their legitimate Pizza business revenues. Which of the three money-laundering steps does this describe?

Integration

Suzanne is an officer in the private banking division of a large regional bank. The most likely reason that she may not effectively buffet anti-money laundering responsibilities because she

Is asked to file conflicting roles

Sally, who is the AML compliance officer for the Big brokerage firm, has noticed that a client has been frequently moving money in and out of his account. Suzanne suspicious that the client is engaging in

Layering

Money laundering often view the securities industry as a prime target for money laundering because of all of these EXCEPT

Most securities firms do not accept cash

When a registered representative of a securities brokerage firm notices a client has been transferring funds from various sources into the clients account, the representative should

Report this to her AML compliance officer because it may be an indication that the client is engaging in the money laundering phase.

Which should NOT be a part of Cassandra's firm know your customer guidelines?

Take the customer's word for identification purposes.

A regular customer of the bank has recently made a deposit of 13500, and Caroline, as the SML compliance officer of the bank, is aware that the source of the funds may be suspicious. What report(s) is the bank required to file?

The bank must file a CTR and a SAR

Matthew has engaged in a variety of illegal activities launder funds from them. Matthew will most likely use securities firms when

layering transactions

Your client has engaged in a suspicious activity and your firm has filed a SAR. which of these is true?

You are prohibited from divulging any information regarding the report.

A CTR is required in all of the following except

Your client pays 100,000 single premium annuity with a personal check

what did the money laundering control act of 1986 do that gave authorities more power to pursue money laundering activities

made money laundering a felony

ABC insurance company has appointed James laundry. Because any of the following insurance contracts except

group annuity contracts