Combating money laundering

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. What does the acronym PCP stand for?

  2. Which of the following should not be taken into account when designing PCPs?

  3. Which of the following would not be contained in a company's AML policy?

  4. Which of the following would not be part of a typical company's procedures?

  5. Which of the following answers is the best definition of a suspicious transaction?

  6. Which of the following is not an example of a suspicious transaction?

  7. What is the primary reason why firms should not make disclosures to clients about whether they have forwarded a suspicious activity report to the authorities?

  8. Why should firms be particularly diligent in their approach to reporting?

  9. To whom should accountants report actual or suspected instances of money laundering?

  10. Which of the following topics would not be covered in a typical AML training programme?