Aml anti money laundering - Study guides, Class notes & Summaries

Identify the seven topics of international incorporated into the FATF 40 recommendations in 2012? - AML/CFT policies & procedures. Money Laundering & confiscation. Terrorist financing & financing of proliferation. Financial & non-financial institution preventative measures. Transparency & beneficial ownership of legal persons & arrangements. Powers & responsibilities of competent authorities & other institutional measures. International cooperation. According to the Egmont Group, What is th...

AARMR stands for - American Association of Residential Mortgage Regulations AML - Anti-Money Laundering Blockbusting - Illegal practice of inducing homeowners to sell their properties cheaply by telling them that a certain people of a certain race, national origin or religion are moving into the area, and thus profiting by reselling at a higher price CC&R - covenants, conditions, and restrictions CFPB - The Consumer Financial Protective Bureau - an independent federal agency that holds pr...

How do drug traffickers and other criminals use the fine art industry to disguise illicit proceeds? A. They use forged or fraudulent invoicing of priceless works of art by auction houses B. They commingle legitimate and illicit proceeds by principals for payment of fine art C. They immediately resell priceless works of art after purchase from a foreign auction house D. They use anonymous agents to buy the art and have the payment wired from offshore havens - Answer-D An anti-money laundering...

C - The USA PATRIOT Act was passed in: A) 1970 B) 1985 C) 2001 D) 2007 D - The three stages of money laundering are: A) Layering, Placement, Refining B) Placement, Refining, Integration C) Refining. Integration, Layering D) Integration, Layering, Placement D - Which of the following would be satisfactory elements of an Anti-Money Laundering Program? I - A CAMS certified employee in the Investigations Unit writes up a few policies and procedures and posts them on the departmen...

AMLA LAW QUESTIONS AND ANSWERS | LATEST UPDATE | GRADED A+ What is the primary focus of the Anti-Money Laundering Act (AMLA)? - Enhancing corporate governance - Promoting financial literacy - Preventing and detecting money laundering and terrorist financing Regulating financial institutions and ensuring compliance with AML standards Which of the following entities is typically required to comply with AMLA regulations? - Non-profit organizations Banks and financial institutions...

What option describes what makes pouch activity MOST vulnerable to money laundering? - They enable money launderers to structure using monetary instruments. Which option describes why U.S. dollar drafts are MOST vulnerable to money laundering? - They make it easy for the money launderer to conceal the source of funds once the illicit funds are no longer in cash form. How do bulk cash shipments occur? - Between two banks even when the receiving bank does not take physical possession of th...

Anti-Money Laundering Questions and Answers | Latest Version | 2024/2025 | Already Passed What is the primary goal of anti-money laundering (AML) practices? The primary goal of anti-money laundering (AML) practices is to prevent, detect, and report financial transactions that may involve illegal activities or financial crimes. What is a common method used to launder money? A common method used to launder money is layering, which involves moving funds through a series of compl...

Upon Expiration, all in-the-money S&P 100 Index call options are settled by the delivery of which of the following? - Correct Answer-Cash Which of the following statements is true about treasury stock? - Correct Answer-It is issued stock that has been subsequently reacquired by the corporation In the event of a stock split, which of the following parties is required to maintain a record of the shareholders eligible to receive the additional shares? - Correct Answer-Transfer Agent Which of ...

Direct Participation Programs (DPPs) provide: : exposure to non-correlated assets with steady returns Under Federal Reserve Regulation T, a 90-day restriction is imposed when a customer opens and closes which of the following positions? : The same stock in a cash account without paying for the stock in full Under the securities act of 1933, registration is required for which of the following securities : American Depository Receipts (ADRs) A customer has a cash balance in her account t...

AARMR stands for - American Association of Residential Mortgage Regulations AML - Anti-Money Laundering Blockbusting - Illegal practice of inducing homeowners to sell their properties cheaply by telling them that a certain people of a certain race, national origin or religion are moving into the area, and thus profiting by reselling at a higher price