AML CFT Quiz Day 4

Money laundering is the act of converting dirty money to clean money

• True

• False

The Crime from which dirty money is earned is called....?

• Objective crime

• Subjective Crime

• Money laundering crime

• Predicate crime

Which of the following is allowed or required by AML/CFT Law (Choose one)

• Help a money laundering to conceal dirty money

• Report a suspicious transaction

• Tip-off a customer that he is under suspicion

• Buy dirty gold

The three stages of money laundering are? In correct order

• Placement, Integration, layering

• Structuring, Layering, integration

• Placement, Layering and Integration

• Integration, Layering, Placement

Why is gold susceptible to ML?(choose three)

• High Value, Compact and easy to carry

• Gold is liquid

• Gold is Illiquid

• Gold can be bought and sold anonymously

What is structuring?(choose two)

• Pyramiding

• Splitting a transaction to avoid detection

• Licensing

• Smurfing

Who is a money mule?

• Criminals who commit predicate crimes

• Agents who preform layering or structuring for commission

• Directors of companies

What is a Front Company?

• Company on Sea-Front

• Foreign Company

• Legal Companies owned by Criminals to blend dirty cash with legal revenues

• Loss-making companies

What is a shell company?

• Company selling sea shells

• Foreign Company

• Company having no physical address, no employees or business activity

Who or what is a beneficial owner? Which one is the best definition?

• Legal Owner of the Company

• When the owner of a company is another company

• The person who controls a company even if he is not the owner