ACAMS
CAMS · Question #529
A non-U.S. bank asks its U.S. correspondent whether there is risk of having funds seized in their correspondent account if a customer is involved in a predicate offense.The correspondent bank's…
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Conducting and Responding to Investigations
Question
A non-U.S. bank asks its U.S. correspondent whether there is risk of having funds seized in their correspondent account if a customer is involved in a predicate offense.The correspondent bank's reply should be,
Options
- A"No, only U.S. accounts for U.S. citizens can be seized and forfeited by the competent authority."
- B"No, only correspondent accounts of U.S. banks can be seized and forfeited by govern-ment
- C"Yes, if it is suspected that money laundering has occurred solely in the U.S."
- D"Yes, also if the customer's account is used in a country other than the U.S. by suspected money
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Topics
#asset forfeiture#correspondent accounts#predicate offenses#US jurisdiction