8 Questions
What was the primary reason for Alice's negative shift in attitude toward life?
Meeting Jim, who was living a lavish lifestyle despite a third-class division
How did Alice attempt to succeed in life following her meeting with Jim?
By opening a corporate account for a business allegedly belonging to Jim
Why were several fraudulent activities carried out within a spate of two weeks?
The lack of adherence to basic Know-Your Customer (KYC) and Customer Due Diligence (CDD) principles
What was discovered about JIMCART Limited after an investigation by the Bank’s Internal Control Department?
No Search was conducted on JIMCART Limited as it was not on the list of companies at the Corporate Affair Commission (CAC)
What type of information did Mr. Frederick Sharp provide falsely on the loan application form?
His income and employment status
What led to Alice abruptly disappearing from work?
The discovery of fraudulent activities by the Bank’s Internal Control Department
How did the bank fail in terms of conducting necessary checks on JIMCART Limited?
No Search was conducted on JIMCART Limited as it was not on the list of companies at the Corporate Affair Commission (CAC)
What impact did Mr. Frederick Sharp's false information have on Crown Bank?
It could potentially lead to financial loss for the bank
Test your knowledge on assessing and reporting material compliance failures within a bank's compliance plan. This quiz covers topics such as compliance monitoring, regulatory sanctions, and disciplinary actions related to compliance queries and culture.
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