CAMS · Question #220
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…
Sign in or unlock CAMS to reveal the answer and full explanation for question #220. The question stem and answer options stay visible for context.
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
Unlock CAMS to see the answer
You've previewed enough free CAMS questions. Unlock CAMS for full answers, explanations, the timed quiz mode, progress tracking, and the master PDF. Question stem and options stay visible so you can still see what's on the exam.