ACAMS
CAMS · Question #2
The USA PATRIOT Act requires United States (U.S.) financial institutions to collect certain information from non-U.S. banks that hold a correspondent account. Which two pieces of information must a no
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Compliance Standards (International AML/CFT Standards and the role of FATF)
Question
The USA PATRIOT Act requires United States (U.S.) financial institutions to collect certain information from non-U.S. banks that hold a correspondent account. Which two pieces of information must a non-U.S. bank provide to its U.S. correspondent to enable them to comply with this requirement? (Choose two.)
Options
- AThe name and address of all shell banks the bank maintains accounts for
- BThe name and address of all beneficial owners who own 25% or more of the bank
- CPrompt notice of any suspicious activity it detects on any customer who uses the correspondent
- DThe name and address of a U.S. person who is authorized to receive service of legal process for
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Topics
#USA PATRIOT Act#correspondent banking#shell banks#legal process agent