Compliance Training Quiz
Compliance Training Quiz
Test your knowledge on compliance and risk management with our engaging Compliance Training Quiz! This quiz is designed to help you understand essential concepts related to money laundering, risk assessment, and compliance regulations.
Join us to ensure you are well-versed in the key practices of compliance and risk management that are critical for your organization. This quiz covers:
- Money Laundering
- Terrorist Financing
- Risk and Compliance Practices
While the internal control function has 3 lines of defense, what is the line of defense for risk and compliance function?
1st line of defense
2nd line of defense
3rd line of defense
If a customer cheated someone else and keep a certain money in U-Pay Wallet, does this activity called Money Laundering?
Yes
No
1. Money Laundering includes concealing or falsely justifying the illicit origin of the property. 2. Terrorist Financing is any activities to support terrorist activities.
Statement 1 is True
Statement 2 is False
Both statements are True
What shall U-Pay do before onboard a Merchant?
Conduct due diligence on the business, owner, board of directors and authorized representatives.
Conduct enhanced due diligence if any suspicion.
Verify their identity against sanction lists.
What is the threshold required to drilldown in identifying ultimate beneficial owner?
15%
20%
25%
What should you do if you suspect a customer laundering money?
Nothing. It is the role of Risk & Compliance Department to monitor such transaction.
Report the case to Operations Department to block the transaction.
Report to Risk & Compliance Department and never tell customer that you reported the case.
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