ACAMS
CAMS · Question #196
Which three criteria does a shell bank meet according to the Wolfsberg Principles on Correspondent Banking? Choose 3 answers.
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Compliance Standards (International AML/CFT Standards and the role of FATF)
Question
Which three criteria does a shell bank meet according to the Wolfsberg Principles on Correspondent Banking? Choose 3 answers.
Options
- AIt does not conduct business at a fixed address in a jurisdiction in which it is authorized to conduct
- BIt does not employ one or more individuals at its fixed address where it is authorized to conduct
- CIt is not subject to AML laws that require it to implement an AML program
- DIt is not subject to inspection by the banking authority that licensed it to conduct banking activities
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Topics
#shell banks#Wolfsberg Principles#correspondent banking#bank definition