ACAMS
CAMS · Question #264
What are two aspects of the Wolfsberg Anti-Money Laundering (AML) Principles for Correspondent Banking? (Choose two.)
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Compliance Standards (International AML/CFT Standards and the role of FATF)
Question
What are two aspects of the Wolfsberg Anti-Money Laundering (AML) Principles for Correspondent Banking? (Choose two.)
Options
- AAt least one person, aside from the person sponsoring the relationship, should approve the
- BCorrespondent banking is an inherently high risk business and all correspondent bank
- CFactors such as politically exposed person involvement and downstream (nested) correspondents
- DAn Institution may assign a low risk rating to a correspondent bank located in a jurisdiction
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Topics
#Wolfsberg principles#correspondent banking#nested correspondents#PEP risk