Transaction Monitoring - DataPro Limited

Welcome to your Assessment.

Number of Questions: 10

Time Allowed: 10 minutes.

You are allowed only one (1) attempt.

Name

Organisation

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.

What are the benefits of TMS?

a) Customer Tracking, Eliminate AML

b) Reduce false alerts, Align regulatory expectations

c) Improved Transparency, Increased Identification

d) All of the above

Sections __ & __ of MLPA speaks to TMS?

a) 3 & 4

b) 2 & 5

c) 3 & 6

d) 2 & 7

A transaction monitoring program helps the Bank to: Identify, mitigate and manage ML/TF/PF Risks. Identify and report suspicious matters to the FIU and meet ongoing customer due diligence and enhanced customer due diligence obligations

a) True

b) False

Pillars of TMS include _____

a) A well-Calibrated Framework

b) Robust Risk Awareness

c) Meaningful Integration & Active oversight

d) All of the above

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

A transaction which is beyond a customer’s normal capability & wealth, but which the customer is able to justify with required documents is known as?

a) All of the above

b) Unusual transaction

c) Normal transaction

d) Suspicious transaction

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

Customer risk rating is:

a) Something of great importance as High-risk customers need more monitoring and due diligence

b) All of the above

c) marketing criteria which have nothing to do with combating money laundering.

d) Not important as banks should treat their customers equally and without discrimination.

Which of the following is an unusual activity?

a) Employees unwilling to take a vacation

b) Customer with a lot of musty bills for deposit

c) Large volume of deposits into a dormant account

d) All of the above

1 out of 10

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Welcome to your Assessment.

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