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Questions and Answers
A customer's willingness to provide information about a transaction is an example of an objective indicator.
False
Professional judgment is a type of objective indicator used in Transaction Monitoring.
False
The four-eyes principle is a type of internal control measure that involves the Financial Intelligence Unit.
False
Compliance professionals are always involved in the internal procedure after the four-eyes principle.
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The Central Bank of a country is responsible for supervising compliance with money laundering laws and regulations.
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The Financial Intelligence Unit is responsible for taking action against financial institutions that fail to comply with regulations.
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Transaction Monitoring is a relatively new concept in the field of anti-money laundering.
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The mitigation phase of the risk pyramid includes the four-eyes principle and Compliance measures.
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Internal control measures can include both the four-eyes principle and external reporting to the Financial Intelligence Unit.
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The Financial Intelligence Unit is a supervisory authority that can take action against financial institutions that fail to comply with regulations.
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