Self Assessment B.

1. The washing of someone’s money to make it clean

2. The process by which criminals attempt to hide and disguise their criminal assets
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3. A modern-day term for fencing stolen goods
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4. The process by which criminal attempt to hide and convert their criminal cash

1. To allow criminals to use their criminally derived assets without fear of detection and prosecution

2. To make criminal money clean before it enters the economy

3. To avoid non-legal tender from flooding the financial markets

4. To allow a criminal to buy a piece of art without having to explain their source of wealth

1. Providing financial assistance in support of the prevention of terrorism

2. The funding or financing of acts of terrorism and any costs associated to such

3. Providing financial assistance to the victims and families of terrorist attacks

4. Evading international sanctions orders

1. Yes

2. No

1. Between £1.6 and £4 trillion

2. Over £4 trillion

3. £50 billion

4. Over £100 billion

1. The Money Laundering (and Terrorist Financing) Regulations 2019

2. The Proceeds of Crime Act 2002

3. The Terrorism Act 2000

4. The Sanctions and AML Act 2018

1. The Money Laundering (and Terrorist Financing) Regulations 2019

2. The 4^th Money Laundering Directive

3. The 5^th Money Laundering Directive

4. The 6^th Money Laundering Directive 

1. Concealing, disguising, converting or transferring criminal property

2. Becoming involved in the arrangements relating to criminal property

3. The acquisition, use or possession of criminal property

4. All of the above

5. None of the above

1. The act of laundering money

2. The underlying offence that created the proceeds of crime in the first place

3. The process by which criminal assets are confiscated by the court

4. The act of integrating criminal assets into society

1. The process by which AMPs ascertain who they are dealing with

2. Verifying someone’s identity

3. Establishing the legal right to buy/sell a piece of art

4. Confirming the source of wealth/funds associated to the buying of a piece of art

5. All of the above

1. Yes

2. No

1. An individual who has been entrusted with a prominent public function
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2. A close associate of an individual who has been entrusted with a prominent public function

3. A family member of an individual who has been entrusted with a prominent public function

4. All of the above

1. It depends on why they are a PEP

2. It will vary given the location of the PEP

3. Always high risk

4. Medium to High risk

1. They may commit fraud

2. We do not want to do business with government officials

3. Their role may have exposed them to bribery, the proceeds of which they pass to us

4. There is no more risk than dealing with any other type of customer

1. Fraud and bribery

2. Embezzlement and tax evasion

3. Theft and forgery

4. All of the above

1. Simplified, standard and enhanced
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2. Low, medium and high
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3. Standard, enhanced and high
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4. Exempt, standard and enhanced

1. Fraud by false representation

2. Fraud by failing to disclose

3. Fraud by abuse of position of trust

4. Obtaining services dishonestly

1. Faith, hope and charity

2. Pressure, rationalization and opportunity

3. Method, control and access

4. Pressure, access and control

1. To help an AMP understand its customer better

2. So an AMP can monitor which kind of customer buys what kind of art

3. To assist an AMP to identify suspicious or unusual activity

4. Ensuring money goes to the bank account to which it was intended following a sale

1. When it has knowledge, suspicion or reasonable grounds to suspect money laundering

2. When it has knowledge, an admission and proof of money laundering

3. When it is told by another AMP that it has knowledge and proof of money laundering

4. When is has reasonable grounds, evidence and an admission of guilt

1. Objective

2. Subjective

1. 10 years in prison

2. 14 years in prison and an unlimited fine

3. 10 years in prison or an unlimited fine

4. 14 years in prison

1. 5 years in prison

2. 14 years in prison and an unlimited fine

3. 2 years in prison or an unlimited fine

4. 2 years in prison

1. 5 years in prison

2. 14 years in prison and an unlimited fine

3. 5 years in prison or an unlimited fine

4. 2 years in prison

1. BAMF

2. The Financial Conduct Authority

3. The Serious Fraud Office

4. The National Crime Agency

1. Defence Against Money Laundering

2. Directive Against Money Laundering

3. Direction Against Money Laundering

4. Disclosure Against Money Laundering

1. The legal entity that ultimately benefits from an organization

2. The natural person that is the ultimate beneficial owner of a company

3. The underlying beneficiary occupant of a company

4. The legal or natural person who is the ultimate buyer of the company

1. No. Where a trust is involved no CDD is required.

2. Yes, because Trusts are not regulated

3. Yes, CDD must run through the entire transaction, even through and beyond a trust

4. No, CDD would only have to be conducted on actual people

1. Because customers like us to protect their data

2. Because we will be fined if we lose the data

3. Because a loss of customer data can lead to money laundering

4. Because data protection is a predicate offence to money laundering

1. Yes, it is – AMP’s are now required to follow the same rules as the banks

2. No, AMP’s are required to implement a lower level of rules than banks