A risk factor when dealing with bulk cash shipments is knowing the true origination of the cash.

When considering an institution’s geographic money laundering risk factor, countries sanctioned by OFAC are only important to a US financial institution

Aggregating BSA/AML risks on a consolidated basis for larger or more complex organizations may enable an organization to better identify risks and risk exposures within and across specific lines of business or product categories.

AML Laws and regulations are designed to create and maintain a paper trail

While analyzing wire transfers sent during the previous month, you notice that 17 wire transfers totaling $182,000 were sent from the account of a small convenience store to an individual in Spain.

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

Indicate which of the following types of businesses are MSBs

By eliminating face-to-face transactions, remote deposit capture (RDC) decreases the cost and volume of paper associated with physically mailing or depositing items and it reduces the risk of money laundering. 

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

What year were the FATF 40 Recommendations issued?