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Explain your understanding of the money laundering and terrorist financing risks in financial institutions.  Assess the impact of those risks in banking and finance. Comment on effective strategies used by financial institutions to manage/ curb money laundering and terrorist financing making reference to applicable legislation.

Explain your understanding of the money laundering and terrorist financing risks in financial institutions. Assess the impact of those risks in banking and finance.Comment on effective strategies used by financial institutions to manage/ curb money laundering and terrorist financing making reference to applicable legislation.

Correspondent banking may involve Select one: a. Providing banking services to other banks facing shortage of staff. b. Acting as transfer and disbursement agents for pension funds. c. Providing foreign exchange trading services to individuals. d. Providing hedging services to corporations. e. Holding and managing assets for individuals or corporations.

What was evolutionary about laws such as GLBA and FACTA? What do organizations need to consider to be compliant with GLBA and FACTA? What is the impact of crimes such as identity theft? How do different jurisdictions (federal, state, or international) deal with financial crimes such as identity theft? Site at least one example.

Which of the following assets are not included in “cash equivalents” in a typical balance sheet?a. Foreign government securitiesb. Certain very low-risk equity securitiesc. U.S. government securitiesd. Time depositse. All of the above might be included in“cash equivalents.”

Research and summarize one of the following international topics related to forensic accounting: Foreign Corrupt Practices Act Panama Papers The link between U.S. used car dealers and international terrorist and drug dealers Transnational money laundering

Consider how an organization must manage cash and receivables. Which of the two is the most important to manage? Is one more susceptible to fraud and errors than the other? Explain your answer. How would a misstatement in each affect an organization?

Which of the following is true of the current state of financial regulation for financial institutions (FIs)?   Most banks can transfer risk on a greater scale and in more complex ways than before. Most FIs now conduct virtual global business, reducing the influence of very large FIs. Most global financial money and capital markets are deliberately disconnected. Most securities exchanges have required majority ownership by resident nationals.

What was the main purpose of the Troubled Asset Relief Program (TARP)?   A. Sell risky assets to foreign investors in exchange for cash to increase Fed capital   B. Write off mortgage debt to provide relief to home owners   C. Provide tax rebates to consumers in order to support spending   D. Purchase risky assets from financial institutions in exchange for new capital

Briefly explain the key concepts below:  a. Financial crime b. Fraud triangle c. Money laundering d. Accounting Fraud e. Asset misappropriation f. Consumer fraud g. Data theft h. Tax fraud NB: Answer questions a-h

Governments require some banks to conduct stress tests of their financial situation.  What type of financial regulation is this requirement? A. Disclosure requirements B. Assessment of risk management C. Restrictions on competition D. Consumer protection

Money laundering involves a number of phases in the overall procedure.     Which two of the following are recognised phases in money laundering?    (1) Relocation   (2) Layering   (3) Integration   (4) Distribution    A. 2 and 3    B. 1 and 2     C. 1 and 4     D. 3 and 4

In certain cases, multiple regulatory bodies aff ect a company’s fi nancial reporting requirements. For example, in almost all jurisdictions around the world, banking-specifi c regulatory bodies establish requirements related to risk-based capital measurement, minimum capital adequacy, provisions for doubtful loans, and minimum monetary reserves. An awareness of such regulations provides an analyst with the context to understand a bank’s business, including the objectives and scope of allowed activities. Insurance is another industry where specifi c regulations typically are in place. An analyst should be aware of such regulations to understand constraints on an insurance company. Th e following are examples of country-specifi c bank regulators. In Canada, the Offi ce of the Superintendent of Financial Institutions regulates and supervises all banks in Canada as well as some other federally incorporated or registered fi nancial institutions or intermediaries. In Germany, the German…