AAL AML Questionnaire

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Advent Ark Lawyers AML Compliance Quiz

Test your knowledge on Anti-Money Laundering (AML) practices with Advent Ark Lawyers! This quiz is designed to assess your understanding of the firm’s AML procedures and compliance requirements.

Join us to learn more about:

Customer Due Diligence processes
Reporting Obligations
Identification of Politically Exposed Persons

15 Questions4 MinutesCreated by CheckingLaw457

Who is Advent Ark Lawyers' Money Laundering Reporting Officer?

Elcel Nerida

Daniel Zhang

Lovelle Role

Emily Wang

What type of customer due diligence should you apply when there is one High Risk factor?

Simple Due Diligence

Enhanced Due Diligence

Standard Due Diligence

Ongoing Due Diligence

When should a Prescribed Transaction Report be submitted to the FIU?

Within 3 working days from the transaction

Within 5 working days from the transaction

Within 7 working days from the transaction

Within 10 working days from the transaction

When should a Suspicious Activity Report be submitted to the FIU?

Within 3 working days after suspicion is formed

Within 5 working days after suspicion is formed

Within 7 working days after suspicion is formed

Within 10 working days after suspicion is formed

When a client's engagement/transaction with us involves an international wire transfer of $1,000 where either the ordering, intermediary or beneficiary institution is outside of NZ, what report, if any, should you file?

Prescribed Transaction Report (PTR)

Suspicious Activity Report (SAR)

Both PTR and SAR

None (No report required to be submitted)

Where there are no more than 1 to 2 Low-Medium risk factors or no more than 1 Medium risk factor involved in the transaction, what is the minimum number of credible identity document/s you would require from the client to verify their identity?

Minimum of 1

Minimum of 2

Minimum of 3

No identity document required

Where there is no more than 1 High Risk factor and no more than 2 Medium-High risk factors involved in the transaction, what is the minimum number of credible identity document/s you would require from the client to verify their identity?

Minimum of 1

Minimum of 2

Minimum of 3

No identity document required

Which procedure/s is/are implemented by our firm to identify whether a client is Politically Exposed Person (PEP)?

Initial interviews with client during consultation containing questions to extract information whether they could be a PEP

Asking client to fill out the New Client form at the office during initial client meetings and the questionnaire attached to the retainer contract during sign ups

Carry out an Internet search to determine if client is a PEP

All of the above

Which document is used as a guide for reporting entities in conducting identity (name and date of birth) verification on clients?

Identity Verification Guidelines 2018

Amended Identity Verification Code of Practice 2013

DIA's Captured Activity Guideline

None of the above

If client is a company, which additional document/s would you obtain as part of CDD?

Company's Certificate of Incorporation

Company extract

Both of the above

None of the above

Who is considered to be a Politically Exposed Person (PEP) under the AML/CFT Act of 2009

A. Any person who has in the preceding 12 months held any prominent public function in any overseas country

B. (A) plus any of their immediate family member of or who has a close relationship with them

C. (A) plus any person who has sole legal ownership of any legal entity that is for the benefit of a person listed in (A)

All of the above

If client is a trust, which additional document/s would you require as part of CDD?

Trust Deed

ID of the beneficiaries

Both of the above

None of the above

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