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While analyzing wire transfers sent during the previous month, you notice that 17 wire transfers totaling $182,000 were sent from the account of a small convenience store to an individual in Spain.

Indicate which of the following types of businesses are MSBs

Like other illegal activities, the laundering of terrorist financing generally involves transactions of substantially large amounts.

Any entity that engages in money transmission in any amount is subject to the BSA rules. This also applies to certain foreign-located persons engaging in MSB activities within the U.S.

When analyzing trade transactions for unusual or suspicious activity, banks need not consider reviewing or becoming familiar with copies of official government import and export forms to assess the reliability of documentation provided

An advantage of e-cash accounts is that these cannot avoid border restrictions

Irrespective of, and in addition to, the time frame to file a suspicious activity report, a financial institution must immediately notify by telephone an “appropriate law enforcement authority” and its primary banking regulator in situations that require immediate attention, such as for on-going money laundering schemes or terrorist financing.

Which of the following would not prompt serious regulatory action.

Even though trade finance services have been widely associated with money laundering and terrorist financing activity, there have been no industry standards or guidance issued on this matter

Here is your exam.  When you are finished, use your camera to scan your exam and upload it here.  Exam 1 file