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Aml Learning Matrix Key

it is not my own key but it is also good for solutions




Which of these these is not non banking method method of laundering money 3f 1f 2 Financial transactions that are not n ot in compliance with law are to be 3f1 Companies that are set up according to the laws of the land but do not do any real business are called 3f 1f 2 Reports on anti money laundering compliance to regulatory agencies is called 123 All S!s must implement necessary procedures and controls to ensure 2 Customer identi"cation procedure for legal person is 3f  Appointing a compliance o#cer within a organi$ation falls under which aspect of money laundering regulations 3 Who re%iews and appro%es risk pro"ling of %arious product segments 1 S! compliance compliance o#cer is responsible responsible for 12 &ultiple accounts set up by the same s ame person with standing instructions is called 2 'assport of the customer is used for 12  (his means also features in in the placement methods of laundering laundering money 3f1f 2 According to FA(F money laundering is 1  (his is a suspicious transaction transaction 3 )ach S! will de%elop appropriate measures for transaction processing in consultation with 3f  'lacement methods using banking and "nancial institutions is broadly di%ided into 12 Re%ised anti money laundering guidelines of R* co%er 23 *C*C* bank will ha%e proper record maintenance policies and procedures in place to 3 Collating and maintaining maintaining A&+ records records is the responsibility responsibility of 1  (his is not a step in the money laundering laundering process 3 A bank which doesn,t ha%e any physical presence in any country is called 2 &oney laundering is usually carried carried out in 2 -etailed guidelines on identi"cation of suspicious transactions is gi%en to the employees %ia 3 Common means of integrating money into the "nancial system is 3 'illars of A&+ standards are 12 &oney laundering is 2f 1 From the cessation of the date of the transaction. *C*C* bank maintains records of the transaction for a period of 2  (he policy is applicable to all acti%ities of the bank including all S!,s in *ndia and abroad 1 All S!s would conduct risk pro"ling of %arious 2f 3 When a customer mo%es from a low risk to high risk the approach used is 2 Regulations empowering the director to le%y a "ne or order on banking companies or "nancial institutions or intermediaries for failure to comply with pro%isions of section 12 are laid down in 2  (he stage where clean money is mi/ed with illegal money to disguise it further is called 2f 3f 1 What are the key anti money laundering ob0ecti%es of *C*C* bank 12 'rocess whereby people send each other money without going through the banking system is called 3 Adeuate diligence is the fundamental reuirement for any business transaction 1 Risk pro"les of customer segments should be submitted to the &+R 1 Cooperation with law enforcement agencies means 1 Which section of the '&+A talks about the powers of the director to impose "nes 3 Which of these customers fall under the high risk category 2 What approach would *C*C* bank adopt in implementing its anti money laundering framework 1f3f  Regulations stating that banking companies. "nancial institutions. intermediaries and their o#cers shall not be liable to any ci%il proceedings against them for furnishing information are laid down in 3  (he bank shall deal with the bank pro%iding ser%ices to shell banks only with the prior appro%al of the bank,s A&+ 1 Abo%e the A&+ framework is 2f 1 Customer identi"cation procedures fall under which aspect of money laundering regulations 1 At the integration stage of the money laundering process 1 or 12 S! compliance o#cer also does 1 Facilities pro%ided by the bank for the transfer of money %ia electronic media are called 2f 1 Separating the funds from their illegal source is called 3 efore o4ering its ser%ices to its correspondent banks *C*C* bank will 1  (ransactions that are inconsistent with the customer,s known legitimate acti%ities are called 3  (he stage where legitimate e/planation is gi%en to illegitimate funds is called 2 anks are reuired to apply basic due diligence for 1f 3f  efore employing temporary or outsourced people *C*C* bank adheres to 1f3 asic due diligence is an approach the bank takes to 1 What does reselling and repurchasing assets for laundering money do 1 'lacement stage is when cash is channeled into 3f 1 Conseuences of money laundering are 123 &+R will escalate the suspicious transaction to 1f  +aundering money by putting it in cash intensi%e businesses like restaurants is called 2 FA(F guidelines consist of how many regulations 1  (his is the preferred means of laundering money accumulated by ta/ e%asion 2f3 *nternal controls must be adeuately supplemented by 3f 1 *C*C* bank will monitor all cash transactions beyond the threshold limit set by the 1f 3f 2 *nformation of the %iolation of the pro%isions of section 12 is pro%ided to the director by 2 At what point it is di#cult for the bank to distinguish between legal and illegal funds 3f1f  &+R will submit the uarterly report to 2f 3f 1 5ow many special regulations were issued to combat terrorist "nancing 3  (his is not a sources of funds for illegal money 3 Which intergo%ernmental body de%elops promotes anti money laundering guidelines 1 o%t of *ndia in consultation with R* has noti"ed the rules under '&+A. for banking companies. "nancial institutions and intermediaries for 12 At which stage of the money laundering process it is relati%ely easy to detect the crime 3f 1  (he bank,s approach for establishing a customer beha%ior pattern includes 3 Signi"cant suspicious acti%ity is reported to the audit committee on 3  (his document is accepted as an identity proof at the time of opening the account 2 Which section of the '&+A talks about procedure and manner of furnishing information 6f 2 *n submitting information to &+R all S!s must use 2f 1 What forms an integral part of *C*C* bank,s group A&+ policy 2f  Risk pro"les of customer segments should be su bmitted to the board of directors of the bank 1f2 'erson responsible for monitoring day7to7day implementation of *C*C* bank,s groups A&+ policy and procedures is 2 Who can call for records de"ned in the section 13 of '&+A 2f  Which section of the '&+A talks about banking companies. "nancial institutions and intermediaries should maintain records 1 !se of multiple cash deposits each smaller than the minimum cash reporting reuirements is called 2 -ri%ing license of the customer is used for 1  (he &+R report would contain 12 *llegal acti%ity where stacks of gold. cash. 0ewllery or e%en rare stamps are mo%ed from place to place is called 2 A8 card issued by income ta/ department is used as 2 Which section of the '&+A talks about ci%il proceedings 2f 1 According to R* guidelines branches should intimate their controlling o#ces about cash transactions abo%e 1 FA(F guidelines are intended to meet 1 FA(F pro%ides guidelines for anti money laundering policies and procedures at 2 9:C procedures will be applicable to e/isting customers only if the risk pro"le of the customer or customer segment changes from low to high 1 )4ecti%e element of a 9now your customer ;9:C< procedure is 2f 3f 1 At which stage of the money laundering process it is relati%ely easy to detect the crime 7*C*C* bank will ha%e proper record maintenance policies and procedures in place to 7Collating and maintaining A&+ records is th e responsibility of