KYC and AML elements

WHO is CFO?

• Chief Financial Officer

• Cash From Operations

• Cancel Former Order

• Chief Fraud Officer

What does OFAC shortcut mean?

• Office for Foreign Asset Control

• Office for Fraud Assets Control

• Officer for Foreign Asset Control

• Office of Foreign Asset Control

Which of the following countries isn't considered as a tax haven?

• Monaco

• Nauru

• Quatar

• Uruguay

• Brazil

What does SPV stand for?

• Special Purpose Vehicle

• Special Purpose Vision

• Social Practice Violation

• Standard Protection Version

In KYC area OVD stands for:

• Oracle Virtual Directory

• Officially valid documents

• Optical Variable Device

• Obsessive Vampire Disorder

• Other Vowel Digraphs

What is the second stage of ML process?

• Layering

• Placement

• Integration

• Collection

FATF stands for:

• Financial Action Task Force

• Foreign Action Tax Force

• Fraud Activity Test Facility

• Foreign Automated Tax Facility

Financial institutions which do not have a physical presence. A relationship with these entities is prohibited unless they are bank affiliates with a physical presence.

• Shell Corporation

• Unregulated casinos

• Unclicensed banks

It occurs when a foreign financial institution gains access to the U.S. financial system by operating through a U.S. account belonging to another foreign financial institution.

• Correspondent banking

• Multiple Jurisdictions

• Event Amounts

• Inconsistent address

• Nested Correspondence

How would you screen "Botland Management LLC"

• Botland

• Botland Management

• Botland Management LLC

• All above correct