Money Laundering and AML-KYC Compliance Quiz
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Questions and Answers

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?

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

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

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

    Which is a major requirement for trust while conducting KYC?

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

    Which exchange is designated for Singapore?

    <p>The Singapore Exchange</p> Signup and view all the answers

    What is the major document required for fund?

    <p>Trust Deed</p> Signup and view all the answers

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