AML QUIZ
AML Compliance Quiz
Test your knowledge on Anti-Money Laundering (AML) principles and practices with our comprehensive quiz. This is a perfect opportunity for financial professionals to refine their understanding and stay updated on the latest regulations.
- 11 Engaging Questions
- Multiple Choice Format
- Gain Insights into AML Procedures
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?
Selasie Woanyah
Kwesi Austin
Kwesi Austin and Robert Sackey
Mathew L. Teye
Samuel Yallow
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
BNI
NIB
FIC
BoG
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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