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Which primary international authoritative body designates sanctions?

A. Organization of Economic Co-operation and Development (OECD)

B. FinancialAction Task Force (FATF)

C. International Monetary Fund (IMF)

D. United Nations (UN)

A popular restaurant in town has begun depositing less cash than it has in prior years. In a review of the customer's accounts, you notice that credit card receipts have increased with no explanation.

The account officer discovers that the restaurant has installed a privately-owned automated teller machine (ATM) onsite and has begun construction on a patio dining area.

Which red flag should trigger additional investigation?

A. Privately-owned ATM

B. Lower cash deposits

C. Increased credit card receipts

D. Construction of the new patio dining area

An individual opens an e-account in an off-shore gambling website using non-documentary verification and creates an e-wallet on a mobile device. In order to add funds to the account, the individual uses a credit card, wire transfers, cryptocurrency, and a money service business. Which source of money represents more risk of money laundering?

A. Wire transfer

B. Cryptocurrency

C. Money service business

D. Credit card

An EU Trust and Company Service Provider (TCSP) analyst notices some unusual activity while looking through a customer's financial statements and detailed general ledger. The customer is in the business of importing and exporting machineries. Which transaction indicator warrants further escalation to the compliance officer?

A. Inter-company loans from the holding company to the subsidiary company to finance the shipment of machinery.

B. The payment of virtual offices services overseas.

C. The payment of consultancy fees to unrelated companies and service providers established in a foreign jurisdiction.

D. The payment of company secretarial retainer fees to a foreign company in a tax efficient jurisdiction.

Why are Money Services Business (MSBs) frequently accused of being high risk for money laundering?

A. A MSB should be used to hide money from a regulated entity

B. MSBs generally charge lower commission rates than banks charge making them attractive to criminals

C. MSBs can route funds to more high risk countries than banks

D. MSBs are subject to regulatory scrutiny which varies greatly from country to country