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Q29 Multiple choice

A bank organized under foreign law and located outside of the U.S. maintains a correspondent banking relationship with a U.S.-based bank to handle financial transactions in U.S. dollars for its clients. In compliance with the USA PATRIOT Act of 2001 , all U.S. banks and broker-dealers in securities must obtain a signed certification from all non-U.S. foreign bank clients conducting business with them . What information does the USA PATRIOT Act of 2001 require the foreign bank to certify to the U.S.
bank ? (Select Three.)

Select all that apply.

A
The ownership details of the foreign bank.
B
The foreign bank will not allow indirect use of the correspondent bank accounts by Politically Exposed Persons (PEPs).
C
The jurisdictions in which the foreign bank maintains a physical presence.
D
The foreign bank's operations will be limited to the country of incorporation.
E
The foreign bank will not allow indirect use of the correspondent bank accounts by shell banks.

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