AMLA Refresher

The representative of Ako-Bikol Partylist is a PEP.

• TRUE

• FALSE

Passbook savings accounts with ATM cards are considered low money laundering risk products.

• TRUE

• FALSE

Religious organizations are deemed to be higher ML risk considering that funds may come from donations of undetermined origins.

• TRUE

• FALSE

If branch repairs a portion of its building, the cost of which amounts to P600,000, and issues a Manager's Check as payment for the repair, the transaction shall also be reported as a covered transaction (CTR) to comply with AMLA.

• TRUE

• FALSE

The first and only Southeast Asian athlete to win back-to-back gold medals in the Paris 2024 Olympics

The watchlist is name-based while the PEP list is position-based.

• TRUE

• FALSE

A bank employee filing malicious transaction reports in the regular performance duties and in bad faith is covered by the Safe Harbor provision of the AMLA, as amended.

• TRUE

• FALSE

Real first name of SG Mike Hinonsalao

The conduct of the enhance due diligence may be applied for normal risk clients.

• TRUE

• FALSE

In the organization of the Commission on Audit, only the Chairman and Commissioners are deemed as PEP.

• TRUE

• FALSE