Transcript
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 Adeuate diligence is the fundamental reuirement 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 reuired 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 Conseuences 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 adeuately 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 reuirements 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