ACAMS
CAMS · Question #745
CAMS Question #745: Real Exam Question with Answer & Explanation
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Question
A bank organized under foreign law and located outside of the U.S. maintains a correspondent banking relationship with a U.S.-based bank to handle financial transactions in U.S. dollars for its clients. In compliance with the USA PATRIOT Act of 2001, all U.S. banks and broker-dealers in securities must obtain a signed certification from all non-U.S. foreign bank clients conducting business with them. What information does the USA PATRIOT Act of 2001 require the foreign bank to certify to the U.S. bank? (Select Three.)
Options
- AThe ownership details of the foreign bank.
- BThe foreign bank will not allow indirect use of the correspondent bank accounts by Politically
- CThe jurisdictions in which the foreign bank maintains a physical presence.
- DThe foreign bank's operations will be limited to the country of incorporation.
- EThe foreign bank will not allow indirect use of the correspondent bank accounts by shell banks.
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