The nature of legal process received will generally drive the extent of a financial institution’s investigation.

Section 314 of the USA Patriot Act is modeled after Recommendations 27 and 31 of the FATF-GAFI and as such, this section of the Act applies to every financial institution around the globe.

Experts generally believe terrorist financing comes primarily from which of the following sources?

In order to establish if a customer is a PEP, inquire about the official responsibility of the individual’s office

PEPs refers to only individual account holders.

Due diligence for correspondent accounts must include which of the following:

Monitoring concentration accounts include(s) which of the following:

A bank can shift customer identification responsibilities to its agents (such as car dealers or mortgage brokers) to verify the identity of its customers and to maintain appropriate records.

To effectively monitor third party payment processor accounts, the bank should have an understanding of the following processor information:

An effective transaction monitoring program should include: