Financial Crime: Trivia Quiz!

10 Questions | Total Attempts: 78

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Financial Crime: Trivia Quiz!

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Questions and Answers
  • 1. 
    What are the three stages of money laundering?
    • A. 

      Placement, Smurfing, Investment

    • B. 

      Deposit, Invest, Withdrawal

    • C. 

      Placement, Layering, Integration

    • D. 

      Deposit, Transfer, Withdraw

  • 2. 
    Which of the following statements is true?
    • A. 

      Money laundering is the process of trying to conceal the illegitimate source of funds and convert them to legitimate funds.

    • B. 

      Terrorist financing is more difficult to detect as the funds involved could be either illegitimate or legitimate.

  • 3. 
    Which of the following countries currently have comprehensive sanctions enforced against them by the US Office of Foreign Assets Control (OFAC)?
    • A. 

      Iran

    • B. 

      Pakistan

    • C. 

      Sudan

    • D. 

      North Korea

  • 4. 
    Which of the following banks has been hit with the largest fine for money laundering lapses? 
    • A. 

      JP Morgan

    • B. 

      Barclays

    • C. 

      Deutsche Bank

    • D. 

      HSBC

  • 5. 
    How much money is estimated to be laundered globally each year according to the United Nations (UN)?
    • A. 

      US$800 billion - UD$2 trillion

    • B. 

      US$80 billion - UD$1 trillion

    • C. 

      US$1.5 trillion - UD$2.5 trillion

    • D. 

      US$200 billion - UD$800 billion

  • 6. 
    Which terrorist organization was responsible for the September 11th terrorist attacks in the United States in the year 2001?
    • A. 

      ISIS

    • B. 

      Taliban

    • C. 

      Lashkar-E-Taiba

    • D. 

      Al-Qaeda

  • 7. 
    According to the Financial Action Task Force (FATF), which of the following statements is true?
    • A. 

      A Politically Exposed Person (PEP) is an individual who is or has been entrusted with a prominent public function.

    • B. 

      A Politically Exposed Person (PEP) is an individual who is currently entrusted with a prominent public function.

  • 8. 
    Which bank has recently (first week of September'17) been fined by the US regulator as a result of persistent AML and Sanctions compliance breaches.
    • A. 

      Deutsche Bank

    • B. 

      Habib Bank

    • C. 

      Coutts

    • D. 

      Well Fargo

  • 9. 
    Which of the following agencies in the UK is responsible for the enforcement of the Money Laundering Regulations (2017) legislation?
    • A. 

      National Crime Agency (NCA)

    • B. 

      Crown Prosecution Service (CPS)

    • C. 

      Financial Conduct Authority (FCA)

    • D. 

      Prudential Regulation Authority (PRA)

  • 10. 
    The Prevention of Money Laundering Act (PMLA) was implemented in India back in 2005. However, the first conviction under this act only happened in 2017. Is this statement true?
    • A. 

      True

    • B. 

      False

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