Money Laundering and AML-KYC Compliance Quiz

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What is the first stage of money laundering?

Cleansing

Consolidation

Placement (correct)

Integration

What is the final stage of money laundering?

Integration (correct)

Consolidation

Cleansing

Layering

How does the risk-based approach apply to AML-KYC compliance?

Implementing uniform due diligence measures for all individuals and entities

Assessing the level of risk posed by customers, products, services, and jurisdictions (correct)

Relying solely on customer self-assessment for risk determination

Applying standardized measures to all customers and jurisdictions

How does the FATF contribute to the identification of high-risk jurisdictions?

Conducts regular assessments of jurisdictions to identify strategic deficiencies in AML-CFT frameworks Signup and view all the answers

How does the FATF contribute to international cooperation in AML-KYC efforts?

Facilitates international cooperation by promoting the exchange of information and collaboration among member countries. Signup and view all the answers

Which is a major requirement for trust while conducting KYC?

KYC Analyst must collect the Trust Deed to identify relevant parties in the trust and other details of trust. Signup and view all the answers

Which exchange is designated for Singapore?

The Singapore Exchange Signup and view all the answers

What is the major document required for fund?

Trust Deed Signup and view all the answers

Money Laundering and AML-KYC Compliance Quiz

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Questions and Answers

What is the first stage of money laundering?

What is the final stage of money laundering?

How does the risk-based approach apply to AML-KYC compliance?

How does the FATF contribute to the identification of high-risk jurisdictions?

How does the FATF contribute to international cooperation in AML-KYC efforts?

Which is a major requirement for trust while conducting KYC?

Which exchange is designated for Singapore?

What is the major document required for fund?

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