Which two channels can be utilized during a cross-border money laundering investigation to assist in gathering information according to Financial Action Task Force? (Choose two.)

1. A. Contacting existing liaison officers in the foreign jurisdiction
2. B. Exchanging information between national law enforcement agencies
3. C. Contacting the potential suspect or their family members to request information
4. D. Submitting only formal requests for information to a financial intelligence unit

Correct Answer: AB

When must a United States (U.S.) bank block or reject an international funds transfer when there is an Office of Foreign Assets Control designated party to the transaction?

1. A. Only if the U.
2. B. bank is involved in the funds transfer
3. C. Only if a U.
4. D. person or entity is the ultimate beneficiary
5. E. Only if a non-U.
6. F. person or entity is the ultimate beneficiary
7. G. Only if the U.
8. H. bank’s correspondent informs it of the involvement of the designated party

Correct Answer: D

A customer brings $15,000 worth of chips into a casino and plays various games. The customer redeems all the remaining chips and requests a wire transfer of the proceeds to an unrelated third party. What are two red flags that indicate money laundering? (Choose two.)

1. A. Customer redeeming all remaining chips
2. B. Playing various games before cashing out
3. C. Bringing $15,000 worth of chips into the casino
4. D. Requesting a wire transfer to an unrelated third party

Correct Answer: AD

The branch manager calls the compliance officer and informs her that a law enforcement officer has just left the branch and was asking a lot of questions and left a business card. What should the compliance officer do?

1. A. File a suspicious transaction report
2. B. Follow up to verify that the officer received all necessary information
3. C. Verify that the reported officer was an actual authorized representative
4. D. Require the branch manager to write a detailed memo about the request

Correct Answer: C