AAL AML Questionnaire
Advent Ark Lawyers AML Compliance Quiz
Test your knowledge on Anti-Money Laundering (AML) practices with Advent Ark Lawyers! This quiz is designed to assess your understanding of the firm’s AML procedures and compliance requirements.
Join us to learn more about:
- Customer Due Diligence processes
- Reporting Obligations
- Identification of Politically Exposed Persons
Who is Advent Ark Lawyers' AML Compliance Officer?
Elcel Nerida
Daniel Zhang
Lovelle Role
Emily Wang
Who is Advent Ark Lawyers' Money Laundering Reporting Officer?
Elcel Nerida
Daniel Zhang
Lovelle Role
Emily Wang
How many type/s of customer due diligence is/are there?
1
2
3
4
What type of customer due diligence should you apply when there is one High Risk factor?
Simple Due Diligence
Enhanced Due Diligence
Standard Due Diligence
Ongoing Due Diligence
When should a Prescribed Transaction Report be submitted to the FIU?
Within 3 working days from the transaction
Within 5 working days from the transaction
Within 7 working days from the transaction
Within 10 working days from the transaction
When should a Suspicious Activity Report be submitted to the FIU?
Within 3 working days after suspicion is formed
Within 5 working days after suspicion is formed
Within 7 working days after suspicion is formed
Within 10 working days after suspicion is formed
When a client's engagement/transaction with us involves an international wire transfer of $1,000 where either the ordering, intermediary or beneficiary institution is outside of NZ, what report, if any, should you file?
Prescribed Transaction Report (PTR)
Suspicious Activity Report (SAR)
Both PTR and SAR
None (No report required to be submitted)
Where there are no more than 1 to 2 Low-Medium risk factors or no more than 1 Medium risk factor involved in the transaction, what is the minimum number of credible identity document/s you would require from the client to verify their identity?
Minimum of 1
Minimum of 2
Minimum of 3
No identity document required
Where there is no more than 1 High Risk factor and no more than 2 Medium-High risk factors involved in the transaction, what is the minimum number of credible identity document/s you would require from the client to verify their identity?
Minimum of 1
Minimum of 2
Minimum of 3
No identity document required
Which procedure/s is/are implemented by our firm to identify whether a client is Politically Exposed Person (PEP)?
Initial interviews with client during consultation containing questions to extract information whether they could be a PEP
Asking client to fill out the New Client form at the office during initial client meetings and the questionnaire attached to the retainer contract during sign ups
Carry out an Internet search to determine if client is a PEP
All of the above
Which document is used as a guide for reporting entities in conducting identity (name and date of birth) verification on clients?
Identity Verification Guidelines 2018
Amended Identity Verification Code of Practice 2013
DIA's Captured Activity Guideline
None of the above
If client is a company, which additional document/s would you obtain as part of CDD?
Company's Certificate of Incorporation
Company extract
Both of the above
None of the above
Who is considered to be a Politically Exposed Person (PEP) under the AML/CFT Act of 2009
A. Any person who has in the preceding 12 months held any prominent public function in any overseas country
B. (A) plus any of their immediate family member of or who has a close relationship with them
C. (A) plus any person who has sole legal ownership of any legal entity that is for the benefit of a person listed in (A)
All of the above
If client is a trust, which additional document/s would you require as part of CDD?
Trust Deed
ID of the beneficiaries
Both of the above
None of the above
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