An anti-money laundering officer for a financial institution has been conducting a monthly self assessment.
The officer reviews the accounts increase in compliance with a long standing know your Customer policy. The self- assessment for the latest month shows a significant increase in compliance deficiencies for the first time in more than a year. What is the nest course of action for the anti-money laundering officer to take?

What is the appropriate compliance control for identifying politically exposed persons (PEPs) according to the Basel Committee's paper on Customer Due Diligence for Banks?

To deter money laundering through new accounts, a financial institution should:
1. document the identity of the party opening the account.
2. determine the beneficial owner(s) of the account.
3. query owners' names against Financial Action Task Force databases.
4. seek to determine the source of deposited funds.

A compliance officer is conducting a review of the automated transaction monitoring system. What would be most likely to result in a change in the monitoring system parameters?

Which action does the Financial Action Task Force (FATF) recommend be taken against jurisdictions that have strategic deficiencies?