Podcast
Questions and Answers
The Correspondent Banking Questionnaire assesses the credit score of correspondent banks.
The Correspondent Banking Questionnaire assesses the credit score of correspondent banks.
False
The Wolfsberg Group provides a standardized questionnaire for due diligence investigations.
The Wolfsberg Group provides a standardized questionnaire for due diligence investigations.
True
The standardized questionnaire ensures a more lengthy and resource-intensive investigation.
The standardized questionnaire ensures a more lengthy and resource-intensive investigation.
False
The CBDDQ provides information only on anti-money laundering efforts.
The CBDDQ provides information only on anti-money laundering efforts.
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The standardized approach ensures inconsistency in the information collected from different correspondent banks.
The standardized approach ensures inconsistency in the information collected from different correspondent banks.
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The questionnaire is used to facilitate a faster and less efficient process for both parties.
The questionnaire is used to facilitate a faster and less efficient process for both parties.
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The Correspondent Banking Questionnaire is a mandatory requirement for all banks to conduct business.
The Correspondent Banking Questionnaire is a mandatory requirement for all banks to conduct business.
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The CBDDQ is a mandatory tool for banks to comply with local anti-money laundering regulations.
The CBDDQ is a mandatory tool for banks to comply with local anti-money laundering regulations.
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Danske Bank's Estonian branch was only responsible for processing €10 billion in suspicious transactions from 2007 to 2015.
Danske Bank's Estonian branch was only responsible for processing €10 billion in suspicious transactions from 2007 to 2015.
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The correspondent banks involved in the scandal, such as JPMorgan, Deutsche Bank, and Swedbank, were fined by the United States.
The correspondent banks involved in the scandal, such as JPMorgan, Deutsche Bank, and Swedbank, were fined by the United States.
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The Danske Bank scandal led to a significant increase in the bank's market value.
The Danske Bank scandal led to a significant increase in the bank's market value.
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The Wolfsberg group website provides information on how to engage in financial economic crime.
The Wolfsberg group website provides information on how to engage in financial economic crime.
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The case study of correspondent banking highlights the importance of negligence in maintaining effective anti-money laundering controls.
The case study of correspondent banking highlights the importance of negligence in maintaining effective anti-money laundering controls.
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The CBDDQ is a static tool that is not subject to updates and revisions.
The CBDDQ is a static tool that is not subject to updates and revisions.
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The Danske Bank scandal only had an impact on the bank's reputation and did not affect the wider banking sector.
The Danske Bank scandal only had an impact on the bank's reputation and did not affect the wider banking sector.
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