ACAMS
CAMS · Question #220
CAMS Question #220: Real Exam Question with Answer & Explanation
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Question
In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf. What is another name for these internal, non-client accounts?
Options
- ATrust accounts
- BCorrespondent accounts
- CConcentration accounts
- DPay through accounts
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