GAME: AMLA Part 3 | July 24, 2023

Which of the following is NOT one of the basic obligations of PSBank as a covered person under the AMLA?

• Transaction Reporting

• Record Keeping

• Issuing a Freeze Order

• Customer Due Diligence

If a client attempting a transaction has an unusually comprehensive knowledge of money laundering and terrorism financing issues and the AMLA, and the TFPSA without any justification, the customer points out he wishes to avoid being reported, what should PSBank as a covered person do?

• File a Covered Transaction Report

• File a Suspicious Transaction Report

• Do nothing if transaction did not push through

• Just proceed with the transaction since records can be presented afterwards

How many predicate crimes are connected with money laundering?

• 14

• 24

• 34

• 36

In conducting enhanced due diligence, whenever additional information cannot be obtained, or any document or information provided is false or falsified, or the result of the validation process is unsatisfactory, the branch/unit shall:

• Accept the business relationship with the client with the condition to rectify the findings noted in the documents provided

• Deny business relationship with the client

• Accept business relationship with the client

• Deny business relationship with the client, without prejudice to filing a suspicious transactions report, if warranted

The Branch Officer reads in the newspaper that a high ranking local public official who is a long outstanding account holder of the branch is being investigated by the authorities for accepting bribes. The branch officer immediately checks the official’s account and the official opened a new account few weeks ago. Verification of these accounts disclosed that the Official’s long-standing account had no unusual activity and the newly opened account had no activity. What should the Branch Officer do next?

• Wait until the new account receives funds and confirm their source.

• File STR on the high-ranking public official

• Talk to the NAC who opened the account to understand the client nature and purpose in opening new account.

• Call the office of the public official to confirm the article in the newspaper