The banks' activities have come under close ___________ due to the crimes of its employees. Responsesscrutinyscrutinydefamationdefamationcompactcompactexaltation

According to the course materials, what are measures that can be taken to reduce financial crime involving correspondence banking? (select all, if any, that apply)Group of answer choicesAnti-Money Laundering Act of 2020 s 6308 grants US Treasury and DOJ authority to subpoena any record relating to a correspondent account ‘or any account at the foreign bank’, including records maintained outside the United States.Senior officer approval of all correspondent banking relationshipsUS ‘Patriot Act’ forfeiture powerBan correspondent relationship with shell banksDocumentation to support decisionsEnhanced due diligence of correspondent banking relationshipsAnnual review of all foreign correspondent bank relationshipsKeep all computer software up to date so to prevent cyber attacks

Banking included in which sector of activity

Describe the scenario of banking activities in Malaysia.

The 2008 global financial crisis triggered:Group of answer choicespublic's favor of large banksworsened compliance culture in banksmore regulations on financial institutionsnew types of financial services using technology

What is the basic activity of banks