AML Quiz

For High Risk Customers we must do the following

• CDD

• EDD

• SDD

Before we report a suspicious transaction(Choose one)

• We must know what crime was committed.

• We must know who committed the crime

• No need to know the crime or the actual criminal. If there is suspicion, we must report

STRs can be reported for(choose one)

• Current transactions only

• Current transactions and past transactions only

• Failed transactions, current transactions and past transactions

• None of the above

What is tipping off?

• Enquiring purpose of transaction

• Enquiring source of funds

• Telling the customer he is under suspicion

• Asking the customer for ID

Terrorist Financing originates from

• Only legal funds

• Only illegal funds

• Both illegal and legal funds

Which Group is exposed to highest ML/TF risk ?( Choose one)

• Dealers in precious metals and stones

• Exporters and importers

• People earning high salaries

• small and medium businessmen

For a high risk customer

• We must ONLY enquire source of funds

• Verify source of funds

• Need not enquire source of funds

PEPS are people who occupy high public offices or political figures

• True

• False

Which of the following customers of banks are considered High Risks?(Choose 3)

• Dealer in gold ornaments

• Real estate broker

• Importer of fruits

• Lawyer

If the Exchange house and its staff do not follow AML/CFT Laws and regulations.. then( Choose three)

• Profits will increase

• Exchange House can be sanctioned by CBUAE or face fines

• Employees can face imprisonment and or fines

• Exchange House can suffer reputational damage