Anti Money Laundering Exam Quiz

15 Questions | Total Attempts: 5151

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Anti Money Laundering Exam Quiz

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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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