Question: 1
What is one recommendation of the Basel Committee's 2001 paper Customer Due Diligence for Banks''?
Question: 2
Bank A is located in Country A, A wire transfer from Bank B located in Country B is processes by Bank A, where the funds are being moved to a customer at Bank C located in Country C. The wire transfer is deemed suspicious by Bank A,
Who should Bank A file a suspicious transaction report on?
Question: 3
According to the Financial Action Task Force 40 Recommendations, simplified customer due diligence or reduced measures could be acceptable for which of the following types of products or transactions?
Life insurance policies where the annual premium is no more than USD/EUR 1,000 or a single premium of no more than USD/EUR 2,500.
Insurance policies for pension schemes if there is no surrender clause and the policy cannot be used as collateral.
A ptfiisiui i Ll idL pr uviJcfb lelir emei it bei lefils Lu employees.
Trusts where the settlor, trustee and beneficiaries are identified and the shares are in bearer form.
Question: 4
When the minimum CDD standards of the home and host countries differ, the offices in the host countries should follow which requirements?
Question: 5
Which precaution will a money launderer take to avoid detection when sending electronic transfers?
