What should an effective anti-money laundering training program include?

Pursuant to the Third European Union Money Laundering Directive, how long after being out of prominent office should a person NOT be considered to be a Politically Exposed Person (PEP)?

What are three potential issues for foreign financial institutions maintaining correspondent accounts with U.S.
banks under the Patriot Act?

What should a compliance officer do during an ongoing investigation into a client's activities by a competent authority?

Which situation is the highest risk fr money laundering and terrorist financing activity?