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To address transparency concerns, SWIFT adopted a new message format for cover payments (the MT 202 COV) that contains mandatory fields for originator and beneficiary information. 

Indicate which of the following types of pouch transactions from a foreign respondent bank are likely to: (1) be indicative of suspicious activity and should be further investigated; or (2) not be indicative of suspicious activity. The pouch includes multiple money orders purchased by various remitters, and all payable to the same person.

In order to establish if a customer is a PEP, inquire about the official responsibility of the individual’s office

Internal controls should:

Under which of the following does a foreign person have direct access to a U.S. bank account

Policies, procedures and processes on bulk shipments of cash should include all of the following, EXCEPT:

Which of the following transaction types, entities, or circumstances should also cause the initiation of an OFAC check?

A bank can have an effective Bank Secrecy Act (BSA)/Anti-money Laundering (AML) compliance system without necessarily having performed an institution risk assessment.

Funds transfers can be used in the placement, layering, and integration stages of money laundering.

Experts generally believe terrorist financing comes primarily from which of the following sources?