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The types of legitimate transactions one can expect to see in a foreign embassy’s account include:

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 a number of U.S. bank drafts from various foreign banks in even amounts of $50,000 to $100,000.

A bank that maintains a correspondent account in the U.S. for a foreign bank must maintain which of the following records:

Deposit brokers are generally considered high-risk as they can bundle deposits, obtain deposits from foreign customers, and facilitate anonymity of their depositors.

Due diligence policies, procedures and controls for Foreign Correspondent Banking must:

Commercial AML software systems are designed to be run “out of the box” and need no further tweaking to be effective.

Professional service providers (PSP) include lawyers, accountants, investment brokers, and doctors; generally all professionals who offer a service are PSP that can act as financial liaisons for their clients.

Examples of money laundering activity and suspicious activity monitoring and reporting can and should be tailored to each individual audience. Training should encompass information related to applicable business lines, such as trust services, international, and private banking.

A bank’s BSA/AML compliance program must:

Enterprise risk management effectively eliminates requirements for individual subsidiaries’ BSA/AML compliance programs, as they are folded into the enterprise risk management program.