Anti-Money Laundering Quiz
Anti-Money Laundering Awareness Quiz
Test your knowledge on Anti-Money Laundering concepts with this engaging quiz! This quiz consists of multiple-choice questions designed to enhance your understanding of money laundering, relevant laws, and due diligence processes.
- Learn about the steps of money laundering
- Understand the role of key stakeholders
- Identify high-risk customers
A shell company
a) Is often without active business operations or significant assets
b) Has no assets, liabilities and never conducted business
C) Is pre-registered and sits on a shelf
D) Fully functioning company
Dishonest or fraudulent conduct by those in power
A) Bribery
B) Corruption
C) All of the above
D) None of the above
Truly wealthy will fight against paying too much in fees.
True
False
A director of a company is the ultimate beneficial owner
True
False
Individuals who are or have been entrusted with prominent public functions or senior executives of state owned corporations are low risk customers.
True
False
The first step of money laundering
A) Layering
B) Integration
C) Money Laundering
D) Donations to Charities
E) Placement
The third step of money laundering
A) Layering
B) Integration
C) Money Laundering
D) Donations to Charities
E) Placement
Terrorist groups may raise money legally through
A) Layering
B) Integration
C) Money Laundering
D) Donations to Charities
E) Placement
The second step in money laundering
A) Layering
B) Integration
C) Money Laundering
D) Donations to Charities
E) Placement
Dirty money + [_______] = Clean Money
A) Layering
B) Integration
C) Money Laundering
D) Donations to Charities
E) Placement
Accountants are also called
A) Gatekeepers
B) low risk customers
C) Ultimate Beneficial Owners
D) Political Exposed persons
E) Customer Due Diligence
Individuals who ultimately own or control the company are called
A) Gatekeepers
B) low risk customers
C) Ultimate Beneficial Owners
D) Political Exposed persons
E) Customer Due Diligence
Identifying customer and understanding the customer's nature of business and funds
A) Gatekeepers
B) low risk customers
C) Ultimate Beneficial Owners
D) Political Exposed persons
E) Customer Due Diligence
Enhanced Due Diligence is required for
A) Gatekeepers
B) low risk customers
C) Ultimate Beneficial Owners
D) Political Exposed persons
E) Customer Due Diligence
Simplified Customer Due Diligence is required for
A) Gatekeepers
B) low risk customers
C) Ultimate Beneficial Owners
D) Political Exposed persons
E) Customer Due Diligence
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