AML Testing 2021

Generally, how many steps are there in the process of money laundering?

• 3 steps: placement, integration, layering

• 3 steps: layering, placement, integration

• 3 steps: placement, layering, integration

Which of the following subjects can the branch open an account for?

• Shell banks

• Applications who refuse to provide information

• Applications that positive matched with sanction list while conducting Fircosoft checking

• Branches are not allowed to open accounts for the above subjects

According to relevant AML regulations, what kind of transactions must be report to the Anti-money laundering office of the Banking Inspection and Supervision Agency?

• 1,000 USD and above for international transfer

• 500M VND and above or equip for domestic transfer

• 300M VND or equip. for cash transaction

• All of above are false

Which system BBL used for Anti-money laundering?

• CIC & Accuity

• Citad & Vietcombank system

• CIS, SAS, Fircosoft, World-check

• All of above are correct

In which case we have to do KYC?

• First time opening of account

• First time establishment of relationship with bank to use banking services

• Customer who performs an unusual large-sum transaction or electronic money transfer without details on name, address, account number of the initiator

• All 3 cases above

The frequency to do KYC and risk rating review?

• Semi-Annually for High risk customer; every 01 years for Medium risk customer & every 02 years for Low risk customer

• Annually for High risk customer; every 02 years for Medium risk customer & every 03 years for Low risk customer

• Annually for the High risk customer; every 02 years for Medium risk customer & for the Low risk customer just review when they have any change

Which transactions below involving in money laundering

• Use money having from bribery to buy car

• Precious stone trading

• Transfer amount of tax evasion to invest in other company

• Money exchange

• Use couterfeit contract and invoice to transfer illegal fund to oversea

Which transactions below have to perform the special supervision?

• Transactions with unusual or complex large value

• Transactions with the organizations and individuals in FATF’s list

• Transactions with the Jewelry Company

What are the temporary measures to be applied by the bank when a requested transaction is suspected to link with criminal acts or involved parties in such transaction are in blacklist?

• Suspending the transactions

• Report immediately to relevant local authority and State bank of Vietnam

• Tell customer about this detection

• All of above are true

What is money laundering?

• The acts of the individuals and organizations in order to legalize the origin of the property created by the crimes

• Possess the property if at the time of receipt of the property being aware of that property derived from criminal activity to legalize the origin of property

• Companies use their legal profit to invest in non - core business

• All of a, b, c