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:

When quantifying your institution’s money laundering risk you should segregate loans by purpose

If the bank discovers an ongoing suspicious activity, which of the following actions should the bank take?

A financial institution should have an internal incident referral process as part of its transaction monitoring program.

Remote Deposit Capture is a highly sophisticated deposit transaction delivery system that has no risks associated with recordkeeping

Preparing for an examination or internal audit starts when the first day letter is received.

Obtaining CDD information is a sufficient risk mitigating factor when providing international funds transfer services.

Who is responsible for implementing and enforcing the BSA/AML program?