Basic AML Quiz

7 Questions | Total Attempts: 962

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Basic AML Quiz

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Questions and Answers
  • 1. 
    which one of the answers best describes predicate offences
    • A. 

      Criminal activity that leads to money laundering

    • B. 

      Criminal activity that involves pre meditated murder

    • C. 

      Crimes of passion

    • D. 

      Traffic offences

  • 2. 
    which of the options is a  money laundering predicate offence
    • A. 

      Kidnapping for Ransom

    • B. 

      Drug trafficking

    • C. 

      Vandalism

    • D. 

      Robbery

  • 3. 
            Terrorist financing is the processing of funds to finance terrorist activities
    • A. 

      True

    • B. 

      False

  • 4. 
           The difference between money laundering and terrorist financing is that the source of funds for money laundering can only be from proceeds of crime while terrorist financing can be from both legal and illegal sources
    • A. 

      True

    • B. 

      False

  • 5. 
            One of the negative effects of money laundering is that it encourages the act of terrorism
    • A. 

      True

    • B. 

      False

  • 6. 
            Which of these law(s) and regulation support the fight on  AML/CFT in Nigeria  
    • A. 

      Money Laundering Prohibition Act,2011

    • B. 

      Central Bank of Nigeria AML/CFT regulations

    • C. 

      BOFIA 2004

    • D. 

      All of the above

  • 7. 
            What is the relationship between the financial institutions(FIs) and the Nigerian Financial Intelligence Unit (NFIU)
    • A. 

      FIs report currency transaction reports to the NFIU

    • B. 

      FIs report suspicious and unusual transactions to the NFIU

    • C. 

      FIs send returns as per CBN regulations to the NFIU

    • D. 

      All of the above

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