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An Eastern Europeancybercrimeorganization utilizes customer credit card information to steal funds which are deposited in a North American account To transfer the funds out of North America the cyber thieves transfer the funds into numerous prepaid debit cards from a bank.
The funding of the prepaid debit cards is indicative of which stage of money laundering?

• A. The layering stage
• B. The referral stage
• C. The placement stage
• D. The integration stage

Company A is a New Jersey-based company, that trades in the metals industry and has been in business for less than two years. To augment their financing, they approach several banks to obtain loans to be repaid in
180 days. The collateral for the loans is the receivables. When the banks ask Company A for documentation to support the receivables, they are presented with documentation that suggests the receivables are coming from customers in various industries none of which have anything to do with metals.
Which is a red flag of illegal incoming revenue to an entity?

• A. it is very unusual for a company to secure a loan based on receivables from other companies
• B. A relatively young company approaching several banks for a loan is very unusual
• C. The loans are very short-term and should not be used to augment their financing
• D. The receivables transactions have no business or apparent lawful purpose related to the metals industry

Bank A is a mid-size financial institution in Polandthatprimarily holds accounts (or individual and small-business customers While the bank has no U S branches or affiliates the bank's compliance officers realize they must still implement a FATCA compliance program.
Which step should Bank A take FIRST to commence its FATCA compliance program?

• A. Implement a 30% withholding on all interest and dividend payments coming from the U.S. to comply with the law's withholding requirements
• B. Gather and sod all relevant data the bank currently has on its customers to determine what information needs to be collected from account holders
• C. Begin closing accounts and exiting relationships with account holders believed to be U S persons
• D. Because of the FATCA requirement to sell certify notify all international account holders of the need to document their status as a U.S. citizen

Ms. Johnson, the compliance officer at DEF Credit Union, is conducting a risk assessment of the credit union's mobile banking services. Which of the following factors should Ms. Johnson consider when assessing the risks associated with mobile banking?

• A. The credit union's annual revenue.
• B. The level of encryption used in the mobile banking app.
• C. The age demographics of credit union members.
• D. The number of branches operated by DEF Credit Union.

As an internal auditor for a commercial financial institution you are reviewing fixed term loans to a commercial customer that you are convinced were used to launder proceeds of crime.
Which three situations support your suspicion of money laundering? Choose 3 answers

• A. Repayment firms were not followed and the loan was fully repaid early
• B. Loan proceeds were partly disbursed by wire to a higher risk country with strict customer privacy laws
• C. The customer is now classified as higher credit risk and would no longer qualify for a loan
• D. The company's CFO is Ihe son-in-law of the Minister of Defense for a neighboring country