Anti Money Laundering Exam Quiz

15 Questions | Total Attempts: 11458

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Anti Money Laundering Exam Quiz - Quiz

Money laundering enables the rich to grow even richer. Find out how much you know about this sensitive topic by taking this anti-money laundering exam! Quiz yourself on money laundering and the myriad ways it can possibly take place just by simply answering these questions given below. Who knows, you might even learn something new! Don't forget to share this quiz with all your friends so they can stay aware of anti-money laundering practices as well! Let us begin.


Questions and Answers
  • 1. 
    Disclosing that an investigation is being contemplated on  the customer’s account is considered as:
    • A. 

      Layering

    • B. 

      Suspicious transaction reporting

    • C. 

      Failure to disclose

    • D. 

      Tipping off

    • E. 

      Integration

  • 2. 
    How long should we retain player records (Documents/Photo Identification cards)? 
    • A. 

      2 years from the end of relationship with player

    • B. 

      6 years from the end of relationship with player

    • C. 

      We can delete upon customer request provided that the account is deactivated

    • D. 

      We cannot remove player records at all. These are retained as paper trail

  • 3. 
    Criminals almost always launder money solely through banks and other financial institutions. Therefore anti-money laundering compliance is not a serious issue for other types of businesses
    • A. 

      True

    • B. 

      False

  • 4. 
    Is it imperative to comply with AML requirements despite the common knowledge that it is relatively hard to launder money via online gaming sites
    • A. 

      True

    • B. 

      False

  • 5. 
    Probationary employees have no liability and are exempted from receiving monetary penalties/ 2 year imprisonment for Tipping off offenses.
    • A. 

      True

    • B. 

      False

  • 6. 
    Launderers are most vulnerable to being caught during the Integration stage – where money is returned to the criminal from what seem to be legitimate source.
    • A. 

      True

    • B. 

      False

  • 7. 
    Which of the following statements is considered tipping off?
    • A. 

      Your account has been selected for a random spot check

    • B. 

      We are currently reviewing your documents and will revert to you as soon as we can.

    • C. 

      In accordance with our money laundering procedures your account has been locked to maintain the integrity of our fraud detection system

    • D. 

      Your query is being considered by management and we will revert back to you shortly

  • 8. 
    Reported suspicions must be go through the Team Manager prior to escalating it directly to the MLRO
    • A. 

      True

    • B. 

      False

  • 9. 
    Select 3 possible indicators to look for in Money Laundering.
    • A. 

      Unusual volume of payment destinations, often with the same provider

    • B. 

      Player wagers on both casino and sportsbook

    • C. 

      Numerous withdrawals, just under the qualifying threshold

    • D. 

      Player uses an E-wallet

    • E. 

      Multiple and frequent deposits followed by multiple and frequent withdrawals, either shortly afterwards or overlapping further deposits

    • F. 

      All of the above

    • G. 

      None of the above

  • 10. 
    Select the potential risks to the company if we fail to implement counteractive measures in preventing AML
    • A. 

      Loss of revenue

    • B. 

      Attract the wrong kind of business

    • C. 

      Removal of license to operate

    • D. 

      Directors may be fined

    • E. 

      All of the above

    • F. 

      None of the above

  • 11. 
    What is the laundering stage that separates the illicit money from its source, obscures the audit trail and severs links with the original crime to make it appear like a normal financial transaction called?
    • A. 

      Entering in the system

    • B. 

      Legitimising

    • C. 

      Layering

    • D. 

      Placement

    • E. 

      Integration

  • 12. 
    Politically Exposed Persons (PEPs) are identified as higher risk customers. Because they are in a position of influence, there is a strong probability of abuse of authority.  For this reason, we don’t allow them to play in our sites.
    • A. 

      True

    • B. 

      False

  • 13. 
    What is the legal threshold transaction amount for a qualifying payment 
    • A. 

      EUR 3,000

    • B. 

      GBP 2,000

    • C. 

      CAD 3,000

    • D. 

      USD 2,000

  • 14. 
    Which are the 3 stages of money laundering 
    • A. 

      Hedging

    • B. 

      Placement

    • C. 

      Identity fraud

    • D. 

      Integration

    • E. 

      Whitening

    • F. 

      Layering

  • 15. 
    Who are the two Money Laundering Reporting Officers
    • A. 

      Chris Kirkham

    • B. 

      Steve Templeman

    • C. 

      Lisa Karran

    • D. 

      H Dewar

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