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

Not all staff within a financial institution has a role and responsibility to monitor for suspicious transactional activity.

Factors that may determine the risk level of funds transfers include which of the following?

The bank’s BSA/AML risks when dealing with a processor account are similar to risks from correspondent banking relationships

The most significant feature of the misuse of corporate vehicles is the hiding of the true beneficial ownership of the company.

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