money laundering

Which of the following acts does not constitute a money laundering offence?

• Dealing with any property believing the property is proceeds of crime

• Dealing with any property, not knowing the property is proceeds of crime

• Dealing with any property, suspecting the property is proceeds of crime

• None of these

The three stages of money laundering are...

• Placement, Refining, Integration

• Refining. Integration, Layering

• Placement, layering, Integration

• Layering, Placement, Refining

Know your Customer (KYC) / Anti-Money Laundering (AML) / CFT guidelines to prevent bank from being used, intentionally or unintentionally, by criminal elements for money laundering or terrorist financing activities, what does "C" stands in "CFT"?

• Countering

• Case

• Current

• Combating

KYC compliance is a mandatory exercise under the prevention of ?

• Money Laundering Act, 2001

• Money Laundering Act, 2002

• Money Laundering Act, 2003

• Money Laundering Act, 2004

Money laundering is the process by which the proceeds of criminal activity are introduced into legitimate mainstream of financial commerce

• TRUE

• FALSE

What is money laundering?

• Concealment of illegal assets with prior knowledge

• Converting dirty money into clean money

• Acquisition , use and possession of illegal assets with knowledge

• Arrangements-assisting the act of money laundering

Choose three which are unusual and may need to be reported as suspicious transactions

• A customer who deposits money of suspicious origins and refuses to answer questions from the financial institution’s staff

• A customer who tries to move money that is suspected of being derived from criminal activity

• A customer who owns a large supermarket and deposits large amounts of cash several times a day.

• A customer whose account is showing transaction activities which are beyond his known financial capability

Which Baltic state has made the news over the past two years in connection with the Danske Bank money laundering story?

• Estonia

• Finland

• Latvia

• Lithuania

Which of these banks have featured in the news this year in connection with money laundering?

• Nordea

• HSBC

• Bank of America

•  

  All of the above

The risk-based approach to money laundering includes?

• Organization risk assessment

• Customer risk assessment

• Both

• Neither