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Question 1

A politically exposed person (PEP) is eager to open a private account with an international bank. In addition to performing the normal CDD, which measure should be required from the AML officer?

Conduct enhanced ongoing monitoring of the business relationship each quarter.

Obtain senior management approval for establishing such business relationships.

Contact law enforcement, as PEPs pose enhanced risks to an institution.

Make a note of a PEP business relationship and file a suspicious transaction report to the local financial intelligence unit.

Correct Answer

Correct Answer:

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