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DATA PROTECTION COMPLIANCE
ENHANCED DUE DILIGENCE
BUSINESS INFORMATION SERVICES
Welcome to your Assessment.
Number of Questions:
You are allowed only one (1) attempt.
Customer due diligence regarding a transfer instruction from a customer to a third party requires
a. CDD procedure to cover customer only
b. CDD procedure to cover transfer only
c. CDD procedure to cover customer and Third party only
d. CDD procedure to cover customer, transfer and third party only
A UBO is?
a. A natural person who controls the mind and the management of another company
b. A natural person that owns 5% and above stake in another company
c. A corporate person that owns 5% and above stake in another company
d. a & b
What are the pillars of Customer Due Diligence?
a. Customer Acceptance Policy & Customer Identification Procedure
b. Transaction Monitoring System & Risk Management
c. Proliferation of weapons of mass destruction & Legal framework
d. A & B above
What are the work-flow for Risk Based Approach?
a. Risk Identification, Risk Analysis & Measurement
b. Risk Review
c. Risk Mitigation and Implementation of Control
d. A & C above
e. All of the above
A PND advised by the LEAs can be lifted by
b. Court Order
c. Branch Leader
d. Undertaken from Relationship Manager
In compliance terminology, red-flag means?
a. A term used once the balance is negative or overdue.
b. The standard flag of countries not cooperative in fighting money laundering
c. None of the above
d.A warning sign used to bring attention to a potentially suspicious or risky transaction/activity.
Customer risk rating is:
a. Something of great importance as High-risk customers need more monitoring and due diligence
b. marketing criteria which have nothing to do with combating money laundering.
c. Not important as banks should treat their customers equally and without discrimination.
d. All of the above
A request for CDD exemption by a customer could be allowed
a. If customer is High Networth Individual
b. In line with policy and approval
c. If customer is a Tier 3
d. If customer is known to ED or a PEP
What is the purpose of AML/CFT compliance in banks?
a. To satisfy Law Enforcement Agencies
b. To insulate the bank against the consequences of money laundering and terrorist financing
c. To showcase compliance to customers
d. To meet the requirements of the law
ABC Limited offers construction services to River state. Therefore, ABC Limited is regarded as
a. a PEP
b. PEP Associate
c. a Government Contractor
d. a Government Contractor and a PEP
11 out of 10
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