AML QUIZ
AML Awareness Quiz
Test your knowledge about Anti-Money Laundering (AML) practices and terminology in this engaging quiz. Whether you are a beginner or have some familiarity with the concepts, this quiz is designed to enhance your understanding of vital AML principles.
- 11 challenging questions
- Test your understanding of AML regulations
- Improve your skills with practical examples
What is Money Laundering?
Exposing the origins of illegally obtained funds
The origin of illegally obtained funds
Hiding legal tender
Concealment of the origins of illegally obtained funds
What does the “P” in the abbreviation AML/CFT&P stands for?
Propagation
Prevention of Weapons of Mass Destruction
Proliferation of Weapons of Mass Destruction
Prevention
Who is DCI’s AMLRO?
Kwesi Austin and Robert Sackey
Selasie Woanyah
Mathew L. Teye
Samuel Yallow
Kwesi Austin
Identify the stages of Money Laundering.
Placement, Layering and Integration
Identity Fraud, Hedging and Gradation
Placement, Layering, Hedging
Placement, Hedging and Integration
What is the acronym for mandatory national agencies that handle financial intelligence?
EOCO
FIC
BoG
BNI
NIB
Launderers are most vulnerable to being caught during the Integration stage – where money is returned to the criminal from what seem to be legitimate source.
True
False
What is smurfing?
Making small deposits over time to avoid suspicion of money laundering
Smuggling money to avoid suspicion of money laundering
Concealment of the origins of legally obtained funds
Integration of illegally obtained funds
As required by the regulator, which of the following reports must be submitted within 24 hours?
Cash Transaction and Liquidity Reports
Cash Transaction and Suspicious Transaction Reports
Cash Transaction and AML Reports
Cash Transaction and Daily Reports
The difference between the KYC of a politically exposed person (PEP’s) and low risk client is that;
Managing Director and the Head of Legal or Internal Control must sign the KYC of PEP’s
Relationship Manager and Branch Head must sign the KYC of PEP’s
Relationship Manager, Branch Head and Head of CEU must sign the KYC of PEP’s
Relationship Manager, Branch Head, Head of CEU and Head of Compliance must sign the KYC of PEP’s
What type of customer due diligence must Kuukua a Customer Service Officer, do for a Politically Exposed Person’s?
Enhanced Due Diligence (EDD)
Customer Due Diligence (CDD)
Political Due Diligence (PDD)
Medium Risk Due Diligence
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