Advanced AML Quiz for Compliance Officers

What is a shell company?

• Company that does business in sea-shells

• Company that makes boiler shells

• Company that has no physical presence or business or employees

• Listed Company

• Limited Liability Company

Structuring means

• Depositing a large quantity of cash in a bank or an exchange house

• Splitting a large transaction into smaller transactions to avoid suspicions.

• Buying Real estate property

• Using diamonds to buy gold

DPMS means

• Designated Professionals in marketing stones

• Dealers in Precious metals and stones

• Doctors, Professionals and managers

• None of the above

Which of the following is Money laundering? (Choose two)

• Concealment of cash not knowing it is dirty money

• Concealment of dirty money with full knowledge

• Buying dirty gold without knowing it is dirty

• Buying Dirty gold with full knowledge

• Using stolen goods gifted by a friend without knowing it is stolen

Which of the following is Tipping off?

• Helping some one to structure dirty money

• Telling the customer he is under suspicion

• Not reporting a suspicious transaction

• Concealment of dirty money with full knowledge

Who or what is a money mule?

• Mules which carry cash for poor people

• People who carry out money laundering transactions for criminals

• people who fight money laundering

• Rich people who are millionaires

Which of the following is Placement.( Choose two)

• Smuggling illicit cash across a border

• Buying gold using money deposited in the account

• Buying property by selling gold which was purchased using dirty money

• Commingling dirty money with money earned from a legitimate business

Money laundering is a Predicate Crime

• True

• False

Three people enter the Exchange together talking to each other. They go to three counters and send remittance each for AED 40K. They paid cash and took acted as if they are independent.. Manager saw all this but acted as if he did not . What crime?

• Concealment

• Libel

• Arrangement

• Failure to report

Who are Gatekeepers in AML Language?

• Bankers, Exchange House staff and Insurance staff

• Doctors, Engineers and Managers

• Lawyers, Accountants, Notaries

• None of the above