AML QUIZ

Create an image showing a financial theme with symbols of currency, security, and law enforcement, reflecting Anti-Money Laundering concepts.

AML Compliance Quiz

Test your knowledge on Anti-Money Laundering (AML) principles and practices with our comprehensive quiz. This is a perfect opportunity for financial professionals to refine their understanding and stay updated on the latest regulations.

11 Engaging Questions
Multiple Choice Format
Gain Insights into AML Procedures

11 Questions3 MinutesCreated by InvestigatingEagle25

What is Money Laundering?

Exposing the origins of illegally obtained funds

The origin of illegally obtained funds

Hiding legal tender

Concealment of the origins of illegally obtained funds

What does the “P” in the abbreviation AML/CFT&P stands for?

Propagation

Prevention of Weapons of Mass Destruction

Proliferation of Weapons of Mass Destruction

Prevention

Identify the stages of Money Laundering.

Placement, Layering and Integration

Identity Fraud, Hedging and Gradation

Placement, Layering, Hedging

Placement, Hedging and Integration

Launderers are most vulnerable to being caught during the Integration stage – where money is returned to the criminal from what seem to be legitimate source.

TRUE

FALSE

What is smurfing?

Making small deposits over time to avoid suspicion of money laundering

Smuggling money to avoid suspicion of money laundering

Concealment of the origins of legally obtained funds

Integration of illegally obtained funds

As required by the regulator, which of the following reports must be submitted within 24 hours?

Cash Transaction and Liquidity Reports

Cash Transaction and Suspicious Transaction Reports

Cash Transaction and AML Reports

Cash Transaction and Daily Reports

The difference between the KYC of a politically exposed person (PEP’s) and low risk client is that;

Managing Director and the Head of Legal or Internal Control must sign the KYC of PEP’s

Relationship Manager and Branch Head must sign the KYC of PEP’s

Relationship Manager, Branch Head and Head of CEU must sign the KYC of PEP’s

Relationship Manager, Branch Head, Head of CEU and Head of Compliance must sign the KYC of PEP’s

What type of customer due diligence must Kuukua a Customer Service Officer, do for a Politically Exposed Person’s?

Enhanced Due Diligence (EDD)

Customer Due Diligence (CDD)

Political Due Diligence (PDD)

Medium Risk Due Diligence

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