Topics
Products
Follow Us:

Anti Money Laundering Questions and Answers (Q&A)

Royaldevelopment
Answered: Jul 02, 2020
Know Your Customer

Customer Due Diligence is the responsibility of the company to verify and monitor all customers transactions to ensure they are not acting in an unlawful way - it is up...Read More

1 Answer

397 views
Chris Kenway, Content Writer
Answered: Feb 13, 2019
The correct answer to this question is B. The term "smurf" is a colloquial term for a money launderer, derived from the small cartoon characters of the same name. By breaking up large amounts of...Read More

2 Answers

335 views
Chris Kenway, Content Writer
Answered: Oct 24, 2018
The answer to this is E. More and more people are trying to think of ways in order to outsmart establishments like banks. There are people who would pretend to be someone that they are not. Some...Read More

2 Answers

292 views
Ken Wilson, Marketing Analyst
Answered: Apr 09, 2019
All of the examples given show evidence of wilful blindness. In fact it would probably be regarded as incompetence or deviousness worthy of dismissal. Allowing a customer to purchase money orders...Read More

2 Answers

289 views
John Adney
Answered: Apr 09, 2019
False

Any company or Bank should file a CTR if any customer either deposits or withdraw cash transactions involving more than $10000

3 Answers

237 views
John Smith
Answered: Jul 02, 2020
B.

The correct answer is B. The relationship to be established is based on the integrity of the representations made to the bank on the prospect and a complete reliance that the person is...Read More

2 Answers

227 views
Royaldevelopment
Answered: Jul 02, 2020
All these activities

1 Answer

220 views
Royaldevelopment
Answered: Jul 02, 2020
Unusual volume of payment destinations, often with the same provider
Numerous withdrawals, just under the qualifying threshold
Multiple and frequent deposits followed by multiple and...Read More

1 Answer

216 views
Royaldevelopment
Answered: Jul 02, 2020
C) The home address coupled with the name is evidence of a place of residence

The correct answer is C. While the bank may want to visit the prospect, that is not the common reason for...Read More

1 Answer

212 views
Kimmy
Answered: Jul 02, 2020
All these activities

1 Answer

210 views
John Adney
Answered: Aug 13, 2017

There is contradict between the result and feedback. D is showing as correct answer while feedback suggest with A. please check and confirm. Thanks!

2 Answers

207 views
John Smith
Answered: Jul 02, 2020
Ask the customer reasonable questions about the unusual circumstance

1 Answer

204 views
Loading, please wait...

Email Sent
We have sent an email to your address "" with instructions to reset your password.