Podcast
Questions and Answers
What is the main purpose of objective indicators in transaction monitoring?
What is the main purpose of objective indicators in transaction monitoring?
- To monitor compliance with laws and regulations
- To develop a professional judgment
- To advise senior management on compliance measures
- To identify unusual transactions that do not fit the customer profile (correct)
What is the role of a compliance professional in the mitigation phase?
What is the role of a compliance professional in the mitigation phase?
- To monitor compliance with laws and regulations
- To advise senior management on compliance measures and determine heavier measures (correct)
- To report unusual transactions to the Financial Intelligence Unit
- To review the quality of the file and identify risks
What is the purpose of the four-eyes principle in the mitigation phase?
What is the purpose of the four-eyes principle in the mitigation phase?
- To report unusual transactions to the Financial Intelligence Unit
- To advise senior management on compliance measures
- To monitor compliance with laws and regulations
- To review the quality of the file and identify risks (correct)
What is the role of the Central Bank in countering money laundering and terrorist financing?
What is the role of the Central Bank in countering money laundering and terrorist financing?
What is the purpose of the Financial Intelligence Unit?
What is the purpose of the Financial Intelligence Unit?
What is the consequence of non-compliance with laws and regulations by financial institutions?
What is the consequence of non-compliance with laws and regulations by financial institutions?
What is the role of subjective indicators in transaction monitoring?
What is the role of subjective indicators in transaction monitoring?
What is the purpose of internal escalation in the mitigation phase?
What is the purpose of internal escalation in the mitigation phase?
What is the purpose of blocking transactions in the mitigation phase?
What is the purpose of blocking transactions in the mitigation phase?
What is the role of senior management in the mitigation phase?
What is the role of senior management in the mitigation phase?
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