When structuring the BSA/AML compliance function, authority and independence are not of interest

Consolidated information assists senior management and the board of directors in understanding and appropriately mitigating risks across the organization.

Given that e-banking transactions are processed through high levels of technology they need not be subjected to EDD

When analyzing trade transactions for unusual or suspicious activity, banks need not consider reviewing or becoming familiar with copies of official government import and export forms to assess the reliability of documentation provided

A common AML risk associated with e-banking products is that transactions are instantaneous

Any entity that engages in money transmission in any amount is subject to the BSA rules. This also applies to certain foreign-located persons engaging in MSB activities within the U.S.

Even though trade finance services have been widely associated with money laundering and terrorist financing activity, there have been no industry standards or guidance issued on this matter

SAR narratives are subjective and examiners should not criticize the bank’s interpretation of the facts.

Here is your exam.  When you are finished, use your camera to scan your exam and upload it here.  Exam 1 file

CHOOSE THE BEST ANSWER A mother and her two daughters each develop ovarian cancer at approximately the same age in their lives. Based on genetic analysis, it is determined that mutations in the BRCA1,  tumor suppressor gene, is responsible for all three instances of cancer. Their specific mutations are presented below (bold base pair). Mother: ATCGTGTCCADaughter A: ATCGTGTCCADaughter B: ATAGTCTCCA Given these data, what is the most likely origin of each daughter’s cancer? Daughter A’s cancer is Daughter B’s cancer is