ACAMS
CAMS · Question #615
A customer has borrowed the cash surrender value of their life insurance policies. Which requires a further investigation and filing of the suspicious activity report?
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Risks and Methods of Money Laundering and Terrorist Financing
Question
A customer has borrowed the cash surrender value of their life insurance policies. Which requires a further investigation and filing of the suspicious activity report?
Options
- AThe customer uses multiple currency equivalents from different sources to pay the monthly life
- BThe customer has paid the monthly life insurance policy premiums with cash.
- CThe customer directs the payment of the money borrowed to an unrelated third party.
- DThe customer cancels the insurance contract without concern for the penalties after the money is
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Topics
#life insurance#money laundering typologies#third-party payments#SAR triggers