A customer who has Unrealistic business proceeds compared to client’s profile, re-activates his/her dormant account with huge amount and/or deposits at various branches the same day for no logical reason is said to be;
A customer deposits cash and numerous financial instruments in amounts under the reporting threshold to fund an investment account and wants to liquidate the large position through a series of small transactions. What can this be referred to as;
If an employee exaggerates the credentials, background or financial ability and resources of a customer in written reports that the bank requires, for instance for credit appraisal; this is referred to a what in AML/CFT compliance;
Suspicious Transaction Report (STR) is rendered to which of the following bodies;
Where countries do not implement sanctions regimes that will allow them to freeze assets of persons designated by the United Nations Security Council for involvement in terrorism or the proliferation of weapons of mass destruction, it is regarded as;
The Compliance Officer is privy to a discussion between the relationship manager and the customer and he was able to understand that the customer as an investor seems uninterested in the usual decisions to be made about investment accounts, such as fees or the suitability of the investment vehicles and he does not mind how high the fees might be or go, all the customer wants is that the investment should be booked. What do you make out of this observation?
The following are redflags associated with an employee except;
The following observations can be referred to as redflags associated with customers. Except;
One of the commonly used techniques of Money Laundering (ML) through which a customer uses multiple individual and/or transactions to make cash deposits into several accounts and/or to procure financial instruments or managers cheques or bank drafts in amounts below the reporting threshold is referred to as;
A staff avoids taking periodic vacations and says that he/she is fully committed to the institution’s growth and development. This type of disposition can be explained to mean;
