Blog

In the following example indicate whether value is transferred to the 1. importer, or 2. exporter. Goods are priced as being of a value below their true value.

U.S. banks should obtain substantially the same information on its PTA customers whose transactions will pass through the U.S. bank as it obtains on its domestic customers.

ACH transactions that are originated through a Third Party Service Provider (that is, when the Originator is not a direct customer of the ODFI) may increase BSA/AML risks, therefore, making it difficult for an ODFI to underwrite and review Originator transactions for compliance with BSA/AML rules

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 $735 in U.S. currency.

An organization’s culture should consistently reinforce that account monitoring starts at:

At a minimum, a bank must obtain the following identifying information from each customer before opening an account:

A financial institution’s program for customer identification should be submitted to a risk assessment.

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 in random denominations under $500 purchased by various individuals in the same general location and payable to various third parties.

Your bank provides various cash management services, including delivering and receiving currency to your cash-based business customers. While you are reviewing the currency shipments made to customer 863, you notice a significant increase in the amounts shipped, and a shift from small denomination bills to $100 bills. You also notice that currency shipments received customer 863 have increased and contain very few $100 bills.

Which of the following management information systems might one use to detect unusual activity associated with electronic banking?