Podcast
Questions and Answers
What was the amount of the fine imposed on Westpac for money laundering violations?
What was the amount of the fine imposed on Westpac for money laundering violations?
- $2.1 billion AUSTRAC
- $1.1 billion AUSTRAC
- $900 million AUSTRAC
- $1.3 billion AUSTRAC (correct)
Which financial institution was fined $2.9 billion for its involvement in the Malaysian 1MDB scandal?
Which financial institution was fined $2.9 billion for its involvement in the Malaysian 1MDB scandal?
- Westpac
- Insignia
- HSBC
- Goldman Sachs (correct)
What was the amount of the fine imposed on Insignia by Malta's Financial Intelligence Analysis Unit?
What was the amount of the fine imposed on Insignia by Malta's Financial Intelligence Analysis Unit?
- €373,670 (correct)
- €237,000
- €500,000
- €100,000
What was notable about the Goldman Sachs case?
What was notable about the Goldman Sachs case?
What type of clients did Insignia cater to?
What type of clients did Insignia cater to?
What is a trend seen in recent actions against firms?
What is a trend seen in recent actions against firms?
What is the primary objective of imposing sanctions on nations?
What is the primary objective of imposing sanctions on nations?
Which country has extensive sanctions imposed against it by the US?
Which country has extensive sanctions imposed against it by the US?
What is a significant compliance requirement for firms today?
What is a significant compliance requirement for firms today?
What is the result of sanctions breaches according to the text?
What is the result of sanctions breaches according to the text?
What has brought the threat of terrorism to the forefront of domestic and international agendas?
What has brought the threat of terrorism to the forefront of domestic and international agendas?
Why do firms need to ensure their compliance programmes remain effective?
Why do firms need to ensure their compliance programmes remain effective?
What was the fine imposed on John Stumpf, the former CEO of Wells Fargo, for his role in the scandal?
What was the fine imposed on John Stumpf, the former CEO of Wells Fargo, for his role in the scandal?
How much has Wells Fargo been fined since the scandal was first reported in 2016?
How much has Wells Fargo been fined since the scandal was first reported in 2016?
What was the fine imposed on the Dutch bank ING in a major money laundering case?
What was the fine imposed on the Dutch bank ING in a major money laundering case?
What type of criminal activity is a serious threat to financial services businesses?
What type of criminal activity is a serious threat to financial services businesses?
What is the main focus of AML efforts?
What is the main focus of AML efforts?
What is a key difference between money laundering and terrorist financing?
What is a key difference between money laundering and terrorist financing?
What is the primary objective of money laundering?
What is the primary objective of money laundering?
What is the limitation of the 'three-stage' model of money laundering?
What is the limitation of the 'three-stage' model of money laundering?
What is the primary difference between money laundering and terrorist financing?
What is the primary difference between money laundering and terrorist financing?
What is the purpose of screening systems in firms?
What is the purpose of screening systems in firms?
What is the consequence of failing to take AML and CFT seriously?
What is the consequence of failing to take AML and CFT seriously?
What is the role of international bodies in sanctions?
What is the role of international bodies in sanctions?
What is a common myth about money laundering?
What is a common myth about money laundering?
What is the benefit from Mr. Jones' crime in the example?
What is the benefit from Mr. Jones' crime in the example?
What happens to the proceeds of Mr. Jones' premature sale of stock?
What happens to the proceeds of Mr. Jones' premature sale of stock?
Why is placement irrelevant in some crimes?
Why is placement irrelevant in some crimes?
What is a characteristic of money laundering in some cases?
What is a characteristic of money laundering in some cases?
