Financial Crime

In the short term, financial crime is perceived as being nontraumatic. However, in the longer term, deceitful behaviour has a traumatic impact on businesses and communities.

• True

• False

The following are components of financial crime except

• It is deceitful

• It breaches trust

• It is intentional

• it involves a fair consideration of the third party

The following are forms of financial crime except

• Fraud or dishonesty

• Bribery and corruption

• Armed robbery

• Market misconduct, including the misuse of information relating to a financial market

--------- is the first stage of money laundering

The second stage of money laundering is --------

----------- is the final stage of money laundering

There are about 100 countries and jurisdictions committed to implementing the FATF recommendations and standards

• True

• False

---------- is the only FATF observer country

The following are FATF 40 recommendations except

• Risk-based approach to AML

• Implementation of a national policy to AML

• Top-down approach combat of AML

• The use of sanctions

FATF 40 PLUS 9 recommend

• Criminalizing the financing of terrorism and associated money laundering

• International cooperation

• Freezing and confiscating terrorist assets

• Reporting suspicious transactions related to terrorism