A financial services company in the European Union (EU) discoversthatone of its customers is a confirmedmatchto a name on a designated entity list from a European Commission sanctions regime.
Which step should the financial services company take?
You are a fraud investigator who is working lor a large hardware and construction supply retailer that believes it is losing revenue to internal theft and embezzlement. The company has many vendors and fraudulent invoicing is suspected as a source of lost funds.
You have gathered records on payments to vendors from the accounts payable department, and are now going vendor by vendor to analyze documents and look for sources of fraud. You are currently reviewing information on one vendor, Quality Goods, Inc.
• Twenty invoices were received and paid from Quality Goods in the past six months
• Sixteen invoices were for amounts of about S9,000 dollars each Two were just below S1,000 and the remaining two were for amounts of about $3,000
• Purchase orders for items from Quality Goods total about $130,000
• Descriptions of items purchased varies somewhat by invoice but they generally describe different types of plumbing supplies
Given this information what would be the most likely red flag?
In the context of compliance programs and controls, what is the primary objective of conducting a risk assessment within a financial institution?
Mr. Smith, a compliance officer at a financial institution, is tasked with evaluating the effectiveness of the institution’s sanctions compliance program. Which of the following indicators would be most relevant for Mr. Smith to assess the program’s effectiveness?
A law enforcement agent is pursuing an asset recovery case against a defendant accused of running a multimillion-dollar securities fraud scam. The defendant is thought to have moved more than $25 million through a corporate brokerage account held by a corporation formed in Las Vegas. Nevada.
It is believed that funds were sent to accounts held by shell companies in the Netherlands and the Bahamas. It is also suspected that the defendant purchased luxury goods including several high-end sports cars with proceeds of the fraud. The vehicles are registered and tilled to a trust company with a mailing address that is a post office box in Delaware. The agent is attempting to connect the vehicles to the defendant to make the case that they should be seized.
Which item below would BEST support this effort?
The CEO of a major publicly traded shipping company becomes awarethatsome of the contracts she negotiated are becomingunfavorableto the company In additionTradehas declined in her country due to the strong U.S. dollar.
Because the CEO believedthatthese contracts were strong and would increaseprofits,she shared this insider knowledge with her family and encouraged them to buy stock in the company Once it was clear the contracts wereunfavorable. she informed her family to sell all of their stock in small amounts to remain "under the radar" and avoid losing their investments. The CEO resigned andthe shipping company declared bankrupt within a few months.
Which are possible legal consequencesofthe CEO's ethical lapses? Choose 2 answers
A law enforcement agent is investigating the owner of a small grocery store thought to be involved in a financial crime scheme II is believed that the store owner is moving illicit proceeds, but it is not clear how it might be happening.
The agent is conducting surveillance on the grocery store and makes the following observations.
• Individuals occasionally enter the store and ask to speak with the owner, who meets with them and takes notes in a notebook he keeps on his person
• Individuals sometimes arrive at the store with small packages or bags and leave without groceries
• The owner periodically visits another store in the neighborhood that acts as an agent for a large international money services business
The agent has subpoenaed the bank account and transaction records for the grocery store Transaction patterns do not seem out of the ordinary given the type of business and the area and no suspicious transaction reports have been filed on the account. The store is a sole proprietorship and the owner is not listed as owning or controlling any other business entities.
Based on this information what is the MOST LIKELY conclusion of Ihe law enforcement agent?
TeleCo, a company located in Country Z, is currently competing with other companies to earn a telecommunications contract with the government of Country Y.
A week before the winner of the contract was to be announced, an executive from TeleCo arranged a meeting in Country Y with a government official lo pay him a £100,000 bribe to win the contract. The executive cashed eight checks at several branches of a bank in Country Z, each one with a value of £12,500.
Assuming all documents were properly filed which document could serve as the BEST evidence that the executive left Country Z with the cash?
A fully qualified mortgage applicant submits an offer to purchase an investment properly through the seller’s agent conditional on obtaining financing within 72 hours. The purchaser provides accurate and verifiable documentation to support the acquisition and servicing of the debt but the purchase price of the properly appears to be higher than what you would consider fair market value. You suspect that the customer is involved in a real estate investment scheme that is dependent upon an inflated properly value.
A prosecutor in Country X needs to obtain the legally admissible testimony of Person A who resides in the United States, related to an ongoing criminal investigation Person A is incapable ol traveling and will only provide testimony if compelled by a court order in the U.S. There is no bilateral or multilateral treaty or convention that facilitates mutual legal assistance between these two countries.
Which should the prosecutor submit to obtain the testimony of Person A?
