An individual wrote emails lo a local government posing as officials from companies with ongoing contracts with the government In the emails, he requested that wire transfers for payments owed be remitted to new bank accounts The emails appeared legitimate because they included valid but unlawfully obtained tax identification numbers for the companies In all the individual managed to steal nearly $2 million.
Which step would BEST address Ihe gap in the localgovernment’sfraud prevention program?
Your client is the victim of an investment fraud You traced the investment payments made by your client to XYX, Inc. Your research indicates XYX is incorporated in Delaware.
Which means are used to obtain beneficial ownership information from a state authority?
Ms. Garcia, the Chief Compliance Officer of a multinational bank, is reviewing the institution’s sanctions compliance program. She wants to ensure that appropriate measures are in place to monitor and control transactions involving high-risk jurisdictions. Which of the following strategies would be most effective for Ms. Garcia to achieve this objective?
A fraud analyst is concerned that the company's reloadable prepaid card program could be abused by terrorist financiers and wants to ensure the data supplied to the detection system is sufficient for assisting with investigations.
Which data element would be Ihe MOST difficult for the analyst to obtain?
You are asked to investigate the apparent deterioration of financial condition within a company.
Considering the income statement above where should you begin your investigation?
A financial institution operates in multiple jurisdictions and encounters challenges in ensuring consistent compliance with OFAC sanctions across its global operations. What would be the most effective approach for the institution to enhance cross-border sanctions compliance?
You are an investigator in the compliance department of a bank in a border region. The country on the other side of the border has an active narcotics trade run by organized crime gangs operating on both sides of the border Recently, youhave become concerned your bank is being used by a narcotics gang to smuggle bulk cash out of your country.
Which evidence is Ihe strongest indicator that bulk cash smuggling is taking place?
Your bank has recently been targeted by cyber attackers who have compromised the institutions network and stolen some customers online account credentials to conduct account takeovers.
Your team is responsible for reporting the incident to law enforcement and regulatory authorities which includes filing Suspicious Activity or Transaction Reports (SAR/STR) You are reviewing accounts that are thought to have been affected to determine if reporting is needed.
Which of the findings below would MOST likely trigger a SAR/STR report?
Bank A is a mid-size financial institution in Polandthatprimarily holds accounts (or individual and small-business customers While the bank has no U S branches or affiliates the bank's compliance officers realize they must still implement a FATCA compliance program.
Which step should Bank A take FIRST to commence its FATCA compliance program?
You are a compliance officer for a bank that provides services to a third-party payment processor. The processor facilitates credit card payments for online and physical retail stores located within your own country.
You conducted enhanced due diligence on the client when the account was originally opened two years ago. Since then, periodic reviews have noted no changes in the client s operations ownership structure or other information.
Recently regulators in your country have issued penalties against other banks that had insufficient AML controls and monitoring on accounts held by payment processors Concerned, your legal department has asked you to review the client's risk status.
Which is the primary reason for your conclusion that the customer relationship is higher risk?
