Advanced AML Quiz Day

Who are PEPs?( Choose three statements that apply to PEPs.

• Politically Exposed Persons

• High Risk due to possibility of Corruption

• We should not do business with PEPS

• Work in High Govt. offices, their relatives and close associates

What do you do in Customer Due Diligence(CDD)? Choose three

• Customer and beneficial Owner identification

• Customer's Foreign Travel details

• Enquire source of Funds and Source of Wealth

• Purpose of client business/Purpose of Relationship/Amount of business

Which statements about EDD are correct? ( choose four)

• Enhanced Due Diligence

• For High Risk Customers

• Stricter Identification

• Verification of Source of Wealth and Source of Funds & Purpose

• Enquiry about SOF/SOW

Which Global Body's main objective is to fight Money laundering and terrorist Financing?

• United Nations Organization

• World Bank

• FATF

• IMF

Splitting up a large cash transaction to avoid CDD is called?(Choose two)

• Pyramiding

• Factoring

• Structuring

• Discounting

• SMURFING

Commission agents who smuggle gold or cash or do structuring or layering are called?

• Transfer agents

• Money mules

• Lions

• Tigers

Who are High Risk Customers? Choose three

• Real Estate Agents

• Salaried persons

• DPMS

• PEPs

• Govt. Contractors

Which one is a Suspicious Transaction or Activity?(Choose three)

• When client answers CDD questions by reading from paper

• When a client is structuring

• When a foreigner buys gold

• When a client requests you to split the transaction into two invoices

• When a client bargains about price

What is a shell company( Choose three)

• Company selling sea shells

• Foreign Company registered outside UAE

• Company having no physical address

• Company having one or no employees

• Company has no business activity

Which statements about STR are true?(Choose three)

• You have to find out the crime, before you report STR

• If you notice anything unusual , you should report STR

• STR can be for past transactions also

• If a client is misbehaving, please report STR

• If a customer cancels transaction on being asked for CDD Details