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Which one of the below origin of funds does not constitute a base for money laundering?
What is the first step in money laundering?
The supervisory authority in Cyprus in relation to Anti Money Laundering for investment firms is?
An internal report in relation to a suspicious transaction is filed by
Failure to report a suspicious transaction can lead to
A CIF can accept documents in a foreign language if
A regulated currency exchange office from India, trying to open an account with a bank in Cyprus, should undergo
Companies should maintain records of _________________ for existing clients
Simplified due diligence can be made on the below clients
On going monitoring should be done (on a)
A client from France, refuses to submit his utility bill (proof of address) after the existing one has expired, what should be done
Which of the following does not constitute a suspicious behaviour
GoAML is used to
Persons on sanctions lists can be accepted however they need to be monitored
PEPs can be accepted however their closely related persons cannot.
A bank can usually accept to open an account for a company with bearer shares after
In a legal entity a beneficial owner is considered as
In relation to AML, an economic profile for a client should be built in order
All EU non face-to-face clients should be classified as
Resident clients (should be)
In relation to joint accounts, KYC should be done on
A manager (director) asks his secretary to open an online trading account for his company with a CIF. The CIF should do KYC on
Which of the following is a suspicious transaction/act/incident
In relation to money laundering, a non profit organization can be used for
A business relationship should have an element of
All active client should pass through due diligence
As an employee, you should report suspicious transactions
In order not to breach any contractual agreement, the company cannot hold or delay suspicious transactions “after” the account has been approved.
KYC can be completed during the course of establishing a relationship
It is necessary that every internal report should be reported to MOKAS
The company needs to build a customer acceptance policy based on
A trust account should undergo
Which of the following countries applies equivalent EU AML measures
Exchange listed EU companies may undergo simplified due diligence
We can apply simplified due diligence on all 3rd country exchange listed companies, as long as they apply equivalent disclosure EU rules.
KYC on legal entities should be repeated if
In the course of chatting with a client on a friendly coffee meeting outside work, he mentions to you that the reason he opened his account with company is trying to avoid to pay taxes. What should be done
Adverse media can be a reason
An evaluation report is written by
Terrorist financing is harder to detect than Money Laundering