A. Designated AML compliance officer

B. Board of directors

C. Chief operating officer

D. Chief executive officer

A. Determining detailed risk profiles for customers based on their activities and relationships

B. Focusing monitoring primarily on previously flagged customers while using standard controls for others

C. Performing a comprehensive risk assessment to identify customer, transaction, and geographic risks

D. Allocating resources equally across all customer segments to ensure fairness

E. Choosing and applying effective controls that align with the identified risk levels

A. Financial crime does enormous damage to society, undermining market integrity and consumers' and market participants' confidence

B. Financial crime risk incidents always result in fines and losses for the financial firm

C. Financial crime prevention processes make the onboarding process for clients unnecessarily burdensome and complex but create work

D. Financial crime prevention is important as it reduces costs and improves customer services.

A. The customer uses a shipping company dealing with specially designated nationals.

B. The account shows periodic fixed amount remittances for tuition fees.

C. The customer is the object of a civil subpoena.

D. The account has transactions that triggered multiple suspicious activity reports.

A. Regular pension deposits

B. Multiple payroll deposits into one account followed by cash withdrawals

C. Low transaction activity

D. Scheduled mortgage payments

A. Make copies of the customer's documents and submit the originals to the enforcement agency

B. Keep the customer's accounts open at the enforcement agency's verbal request

C. Notify the customer being investigated before submitting documents

D. Have the institution's assigned legal counsel review the subpoena

A. Ignore the activity until regulators request information

B. Conduct enhanced due diligence on the accounts

C. Close all related accounts immediately

D. File a suspicious activity report without review

A. Sign memoranda of cooperation that recognize and allow room for case-by-case solutions to specific problems

B. Improve global cooperation between FIUs

C. Establish an environment to foster trust amongst countries

D. Securely share sensitive information in the fight against money laundering and the financing of terrorism

E. Propose legislation to combat financial crime, including money laundering and the financing of terrorism

A. Concealing true legal and beneficial owners

B. Adding a layer of anonymity to transactions

C. Allowing for third-party custody safekeeping of funds

D. Establishing escrow accounts for real estate transactions

E. Concealing sources of funds

A. Ensure consistent training of all employees on new processes, policies, and tools

B. Ensure that only team leads or managers have decision-making power

C. Implement new processes only once every three years to ensure consistency

D. Implement internal or external tools that streamline onboarding processes

A. A transaction involves funds exchanged from crypto to fiat currencies.

B. A beneficiary of a transaction is a politically exposed person.

C. A FI identifies the payer is a dealer in precious metals or stones.

D. A FI is unable to verify the relevant customer due diligence documents.

A. Targeted sanctions

B. Comprehensive sanctions

C. Comprehensive targeted sanctions

D. Travel bans