What does the Basel Committee's Customer Due Diligence for Banks paper suggest that a bank needs to have in place when establishing an account for a corporate business entity?

A new AML Officer for a US-based money service business (MSB) is drafting procedures around types of activity that require further review. Which should be included? (Choose two.)

According to the Financial Action Task Force 40 Recommendations, simplified customer due diligence or reduced measures could be acceptable for which of the following types of products or transactions?
1. Life insurance policies where the annual premium is no more than USD/EUR 1,000 or a single premium of no more than USD/EUR 2,500.
2. Insurance policies for pension schemes if there is no surrender clause and the policy cannot be used as collateral.
3. A pension that provides retirement benefits to employees.
4. Trusts where the settlor, trustee and beneficiaries are identified and the shares are in bearer form.

Which of the following best describes the Basel Committee on Banking Supervision's principles on customer due diligence?

Which issue does the FATF special Recommendations on Terrorist Financing address?