AML Training

A thoughtful professional examining financial documents with a concerned expression, in an office setting, with a focus on compliance and money laundering prevention.

AML Training Quiz

Test your knowledge on Anti-Money Laundering (AML) concepts with our interactive quiz! This quiz covers important topics such as the consequences of money laundering, stages of laundering, and compliance responsibilities.

Multiple choice questions
Enhance your understanding of AML
Suitable for professionals in finance and compliance

13 Questions3 MinutesCreated by GuardingFunds302

Which of the following is not considered one of the consequences of money laundering?

Corruption

Recession

Undermining of the Private Sector

Economic Distortion

Trying to hide the criminal origin of the proceeds through bank transfers is under which stage?

Layering

Integration

Placement

All of the above

Terrorist financing is trying to use the cash obtained illegally without being detected

True

False

Which of the following is the U.S Financial Intelligence Unit (FIU)?

FINTRAC

FinCen

The Government

The FBI

If you fail to report a suspicious transaction, you will be held responsible and liable.

True

False

Which of the following is not considered a suspicious transaction?

Volume spikes

High Credit to Sales Ratio

Transactions not making sense as to the products being sold

Two purchases from the same credit card

Under the FinCen Rule, the aggregate transaction threshold limit for filing a SAR (Suspicious Activity Report) would be:

$3,000

$4,000

$10,000

$5,000

Transaction Laundering is

When a merchant processes unknown transactions on behalf of another merchant

Monitoring the account after approval

When a merchant processes known transactions

When a merchant suddenly stops processing

Which would be an applicable combination of the documents we could request as part of the KYC onboarding process (Underwriting)?

Drivers License, Passport, Tax ID

Drivers License, Business registration, Tax ID

Bank statements and Utility bill

Health card, Bank statements, Utility bill

Who are the three Compliance personnel at Merrco?

Kiki, Pam, Keith

Fern, Kiki, Robert

Kiki, Robert, Sam

Robert, Keith, Sam

Who should you inform when faced with a suspicious transaction?

The Compliance Officer, Robert

The COO, Kiki

The CEO, Fern

The Compliance Specialist, Sam

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