What are two aspects of the Wolfsberg Anti-Money Laundering (AML) Principles for Correspondent Banking? (Choose two.)
A . At least one person, aside from the person sponsoring the relationship, should approve the correspondent relationship.
B . Correspondent banking is an inherently high risk business and all correspondent bank relationships should be reviewed on an annual basis.
C . Factors such as politically exposed person involvement and downstream (nested) correspondents increase the risk inherent in a correspondent relationship.
D . An Institution may assign a low risk rating to a correspondent bank located in a jurisdiction deemed to have an adequate AML environment (e.g., Financial Action Task Force member country) without needing to consider other factors.
Answer: AB
Explanation:
Reference: https://www.wolfsberg-principles.com/sites/default/files/wb/pdfs/wolfsberg-standards/8.% 20Wolfsberg-Correspondent-Banking-Principles-2014.pdf
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