What does the Financial Action Task Force 40 Recommendations address on transparency of beneficial ownership?

1. A. Gatekeepers
2. B. Correspondent banking
3. C. Payable through accounts
4. D. Legal persons and arrangements

Correct Answer: D

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