CySEC AMLCO Mock 1

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