Question: 1
In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf.
What is another name for these internal, non-client accounts?
Question: 2
What should a bank focus on to ensure on-going compliance with its AML program?
Question: 3
Which activity is most likely to facilitate money laundering through on-line systems with inadequate controls?
Question: 4
In which type of banking transaction is price manipulation, as a form of money laundering, a common practice?
Question: 5
What does the Basel Committee's Customer Due Diligence for Banks paper suggest that a bank needs to have in place when establishing an account for a corporate business entity?
