ACAMS
CAMS · Question #403
In which three situations is correspondent banking most vulnerable to money laundering? Choose 3 answers
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Risks and Methods of Money Laundering and Terrorist Financing
Question
In which three situations is correspondent banking most vulnerable to money laundering? Choose 3 answers
Options
- AWhen allowing foreign banks to use the correspondent account to conduct large financial
- BWhen allowing the correspondent bank account to be used as a payable through account (PTA)
- CWhen allowing the correspondent bank account to be used by other banks
- DWhen allowing financial institutions, without proper due diligence, to access correspondent
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Topics
#correspondent banking#payable-through accounts#nested accounts#due diligence