BD EXERCISE 2

Banking transaction that takes placed in a virtual ambience on the website of a banking company is termed as:

• internet banking.

• telephone banking.

• mobile banking.

• modern banking.

The term PIN refers to Personal Information Number.

• True

• False

The Digital Signature Act 1997 was introduced to facilitate existing penal law and specifically deals with crimes that can be committed using computers.

• True

• False

The most common forms of security over land are:

• Indemnity.

• Charge.

• Hypothecation.

• Pledge.

______ is the bailment of goods as security for payment of a debt or performance of a promise.

• Charge

• Indemnity

• Lien

• Pledge

The law governing the contract of guarantee is provided under:

• Companies Act 2016.

• Consumer Protection Act 1999.

• Contracts Act 1950.

• Guarantees Act 2009.

Debentures are unsecured debt instruments that are issued by a corporation and are backed by the pledge of the corporation’s general credit.

• True

• False

AMLA 2001 has no extra-territorial feature as it applies to property situated in Malaysia only.

• True

• False

There are 3 stages of money laundering. The first stage is:

• Integration

• Placement

• Layering

• Assignment

The punishment for committing money laundering offences under section 4 AMLA 2001 is 25 years imprisonment and a fine of not less than 10 times the value of the proceeds of unlawful activity or 10 million ringgit whichever is the higher.

• True

• False