AMLA Test

1. Which of the following is an AML/CFT authority body in Malaysia?

i. Security Commission (SC)

ii. Bank Negara Malaysia (BNM)

iii. Malaysia Anti-Corruption Commission (MACC)

iv. Inland Revenue Board (IRB)

• I & IV

• II & III

• All of the above

• None of the above

2. Which of the following conduct / behavior by the customer may be considered as suspicious?

i. Customer invested RM1 million in unit trust funds but redeems almost the whole amount at a loss 1 month later.

ii. Customer is a college student with no income but invest with a very large amount.

iii. Customer chooses to invest regularly via Standing Instruction (SI)

iv. Customer names her underage granddaughter as joint holder of her account.

• III only

• I & II

• III & IV

• All of the above

3. Which of the following is a High Risk Customer?

• Sales Assistant of diamond jewellery retail chain store

• Director of ABC SDN Bhd involved in import and export business

• Accountant of a budget hotel

• Manager of a travel agency

4. What is the main focus of the funds in the context of terrorism financing?

• The amount of the funds.

• The ownership of the funds.

• The purpose of the funds.

• The origin of the funds

5. All of the following businesses may be considered as a high risk or cash intensive business except …

• Pawn broker

• Law and accounting firm

• Five-star hotel

• Used car dealer

6.CDD needs to be conducted so that customers are aware of the risks of investing in unit trust funds.

• True

• False

7. Which of the following is NOT regarded as a “Politically Exposed Person” (PEP) ?

• A rank and file (ordinary) member of a political party whose duties include setting up banners and posters before an election

• A step-son of a military General of the Royal Malaysian Armed Forces

• A second wife of a member of the Board of Directors of a government linked corporation (GLC)

• A member of a royal family with directorships in many local businesses and international conglomerates

8. When should a Suspicion Transaction Report (STR) be submitted?

i. Whenever you believe that the transactions were suspicious without any further review.

ii. Whenever you feel suspicious over the transactions, after all the information had been reviewed and clarifications of the issues with the customer has failed.

iii. For all transactions of RM50,000 and above.

iv. When there was no apparent logical explanation on source of fund.

• I & III

• II & III

• II & IV

• III & IV

9. Which of the following statement is correct with regard to customer risk profiling?

• Risk profiling seeks to segregate the rich customers from the poor customers

• Only customers with zero ML/TF risks can invest in our unit trust funds

• Higher risk customers refer to investors who purchase funds with potentially higher volatility

• Customers with high risk may also invest in our unit trust funds but they need to be frequently monitored

10. What is the most appropriate action to be taken when you come across a suspicious transaction?

• Ignore the suspicious signs, continue to process the transaction as normal and hope that other parties in the review process will notice and take action

• Notify all colleagues in the department/branch to be cautious when handling this customer's transaction

• Alert the attending UTC and his/her uplines that something is wrong with the customer’s transaction

• Report the suspicion to Branch Manager/Head of Department and avoid from disclosing the information to anyone