True or False?
Belarus is a high risk birth country that automatically triggers an EDD ticket to be created
True
This client irregularly sends us a special request email we call "AML Due Diligence" tickets on a separate dashboard in JIRA
Sapphire
This is the term for a non-profit’s stated purpose or reason for existing.
What is the mission statement/nature of business
This document governs the operation of an ERISA plan.
What is the plan document
Little Red Riding Hood's enemy that also helps financial institutions demonstrate their Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and sanctions compliance programs.
What is the Big Bad Wolfsberg Questionnaire
The UAE no longer triggers an automatic High Risk review?
True
This client has an old conversion AML letter usually attached with each investor. Since it's expired, we can't use it, but if we ID the UBO's and TLO them we should be good
ACK
These are the legal documents that we would collect for a non US non profit entity
Copy of Government Issued Certificate of Incorporation, Government Issued Certificate of Good Standing, Memorandum and Articles of Incorporation
This type of organization may be exempt from ERISA if it meets certain criteria.
What is a church or government entity
An individual who holds a prominent public function gets questioned in connection with a criminal investigation
What is a politically exposed person of interest
When bridger produces a PEP/RCA hit on a controlling person of a regulated/government entity, we can clear it as True Positive, but we do need to track as they are signing in their official capacity
False
This client has a separate HRJ List
PIMCO
What is guidestar/candid?
ERISA plans must file this annual report with the Department of Labor. (Bonus 300 points if you can name the form that maintains a non profit’s tax exempt status)
What is Form 5500 (Bonus: Form 990)
An insanely popular old west style video game withdraws some of the money from their investment
What is Red Dead Partial Redemption
For Australian investment trusts, we do NOT need to collect AML for the appointer
False
For this client, we mark the checklist on the risk assessment
Siguler Guff
This is the annual information return that most nonprofits must file with the IRS showing transparency and compliance
What is a form 990?
Other than address, TIN and list of authorized signers, what is required AML for both ERISA and pension plans based on the risk assessment?
Copy of plan document or copy of IRS letter
One of Destiny's Child's biggest hits becomes a type of account maintenance
What is Say My Name change
For foreign foundations, some are dissimilar to US foundations, and are more in line with the type of AML we would collect for Corporations
True
Many of these investor's source of wealth ultimately ties directly to government funds
Mubadala
This is the government status granted to non-profits that makes them tax exempt
What is 501(c)(3)?
These can overlap with pension plans, and we can use Form 5500 to verify the EIN. A good indication is if there is a state or country in the investor name
An individual who receives a steady income or assets established by their parents becomes an investment vehicle that offers diversification and professional management by investing in a portfolio of other funds
What is a Trust fund of funds baby