| University | Singapore University of Social Science (SUSS) |
| Subject | FIN573: Financial Crime Compliance |
Question 1
Bring It On (BIO) is a sports club operating in North America with a strong fan base in Southeast Asia. It would like to offer its fans the ability to own a part of the club through tokenized assets and has approached your financial institution to discuss bringing this project to fruition. BIO intends to open an account with your financial institution to receive the funds generated from selling these tokenized assets, and also for these tokenized assets to be customized at your financial institution.
As the AML Officer of the firm, evaluate the situation and assess the AML risks from an account opening and ongoing monitoring perspective posed by this new business transaction.
Question 2
Based on the risks identified in question 1, formulate and design suitable account opening and ongoing monitoring processes to tackle the identified risks.
Question 3
Identify other compliance risks relevant to this business transaction.
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