Podcast
Questions and Answers
Reporting a client’s suspicious behaviour to the ______ (a Suspicious Activity Report should be completed)
Reporting a client’s suspicious behaviour to the ______ (a Suspicious Activity Report should be completed)
police
Informing someone suspected of money laundering that they are being ______
Informing someone suspected of money laundering that they are being ______
investigated
Telling a colleague that you think one of their clients is acting ______
Telling a colleague that you think one of their clients is acting ______
suspiciously
You must report, as soon as practical, where you have knowledge, reasonable grounds for knowledge or suspicion of Money Laundering or Terrorist ______
You must report, as soon as practical, where you have knowledge, reasonable grounds for knowledge or suspicion of Money Laundering or Terrorist ______
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Looking at paper-based documents as a means of client anti-money laundering identity checks may not now be ______
Looking at paper-based documents as a means of client anti-money laundering identity checks may not now be ______
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Reluctance or Failure to provide this information must result in the discontinuance of the business relationship, and consideration given to making a ______ Activity Report
Reluctance or Failure to provide this information must result in the discontinuance of the business relationship, and consideration given to making a ______ Activity Report
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Framework of Anti-Money Laundering & Terrorist Financing: The framework was created by a number of different acts and regulations. The reduction of financial crime is one of the country’s main objectives. Therefore, training, creating awareness and the ability to recognise suspicious transactions are all ______.
Framework of Anti-Money Laundering & Terrorist Financing: The framework was created by a number of different acts and regulations. The reduction of financial crime is one of the country’s main objectives. Therefore, training, creating awareness and the ability to recognise suspicious transactions are all ______.
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Stages of Money Laundering Placement – This involves getting the cash (illegally obtained money) into the financial system and turning it into other financial assets such as cheques, postal orders, bank accounts, traveller’s cheques and property etc. This is the initial placement of the ______.
Stages of Money Laundering Placement – This involves getting the cash (illegally obtained money) into the financial system and turning it into other financial assets such as cheques, postal orders, bank accounts, traveller’s cheques and property etc. This is the initial placement of the ______.
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Layering – This involves creating as many complex series of transactions between the criminal and the dirty money as possible to prevent anyone tracing a link. This is creating ______ of transactions.
Layering – This involves creating as many complex series of transactions between the criminal and the dirty money as possible to prevent anyone tracing a link. This is creating ______ of transactions.
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Individual Obligations If YOU conceal, acquisition, knowingly assist, fail to report or tip off a suspected money laundering, then it is YOU (not your organisation) that is committing a criminal offence. (YOU are personally liable under Money Laundering regulations to report all suspicions or knowledge of Money Laundering. Proceeds of Crime Act 2002) What is “Tipping Off”? This can involve acting in a suspicious manner which the money launder ______.
Individual Obligations If YOU conceal, acquisition, knowingly assist, fail to report or tip off a suspected money laundering, then it is YOU (not your organisation) that is committing a criminal offence. (YOU are personally liable under Money Laundering regulations to report all suspicions or knowledge of Money Laundering. Proceeds of Crime Act 2002) What is “Tipping Off”? This can involve acting in a suspicious manner which the money launder ______.
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What is the primary objective of the country's framework of Anti-Money Laundering & Terrorist Financing?
What is the primary objective of the country's framework of Anti-Money Laundering & Terrorist Financing?
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What is the main purpose of the 'Layering' stage in money laundering?
What is the main purpose of the 'Layering' stage in money laundering?
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Who is personally liable under Money Laundering regulations to report suspicions or knowledge of Money Laundering?
Who is personally liable under Money Laundering regulations to report suspicions or knowledge of Money Laundering?
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In Anti-Money Laundering terminology, what does 'Tipping Off' refer to?
In Anti-Money Laundering terminology, what does 'Tipping Off' refer to?
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What must be completed when reporting a client's suspicious behavior to the police?
What must be completed when reporting a client's suspicious behavior to the police?
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What action is considered 'tipping off' under Money Laundering regulations?
What action is considered 'tipping off' under Money Laundering regulations?
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What is a Politically Exposed Person (PEP) defined as?
What is a Politically Exposed Person (PEP) defined as?
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What is required for identity verification for corporate clients according to the text?
What is required for identity verification for corporate clients according to the text?
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What should be done if a client shows reluctance or fails to provide required identity verification information?
What should be done if a client shows reluctance or fails to provide required identity verification information?
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When should Enhanced Due Diligence (EDD) be conducted on clients?
When should Enhanced Due Diligence (EDD) be conducted on clients?
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