The right side of the law

What kind of approach should accountants take to manage their exposure to money laundering risks?

A knowledge-based approach

A heavy-handed approach

A risk-based approach

A delicate approach

What does the acronym 'BRA' stand for?

Business Risk Annually

Big Risk Assessment

Business Risk Assessment

Business Rates Assessment

Which of the following does a BRA not do?

Informs a firm's due diligence measures

Documents the risk determination process

Dictates appropriate policies, controls and procedures

Completely eliminates risk

What does the acronym 'PEP' stand for?

Politically Exposed Person

Politically Entertaining Person

Politically Exposed Procedures

Powerfully Exposed Person

Which of the following do accountants not need to consider regarding geographical risk?

The country of incorporation

The beneficial owner's country of residence

The origin of the source of the funds

Which portion of revenue is generated through high-risk services

Which of the following do accountants not need to consider regarding transaction risk?

The complexity of the transaction

The country of incorporation

The origin of the transaction

The level of transparency

Which of the following do accountants not need to consider regarding delivery channel risk?

Is business conducted through an intermediary?

What is the purpose of the transaction?

Has the practitioner met the client face-to-face?

Is there a direct business relationship?

Which of the following is not part of a simplified due diligence assessment?

Verify the identity of the client or beneficial owner

Checking for PEP status

Ongoing monitoring of the business relationship

Obtain additional information including internet searches

Which of the following would not require an enhanced due diligence assessment?

The transaction is complex and unusually large

The ML/TF risk has been deemed low

The client is in a non-EEA state

The customer or beneficial owner is a PEP

Which of the following actions does not need to be undertaken as part of an ongoing monitoring process?

Scrutiny of transactions

Re-onboarding clients every year with a full due diligence review

Identifying key trigger events that would require a fresh risk review

Ensuring the source of funds is consistent with the practitioner's knowledge of the client

The right side of the law

What kind of approach should accountants take to manage their exposure to money laundering risks?

What does the acronym 'BRA' stand for?

Which of the following does a BRA not do?

What does the acronym 'PEP' stand for?

Which of the following do accountants not need to consider regarding geographical risk?

Which of the following do accountants not need to consider regarding transaction risk?

Which of the following do accountants not need to consider regarding delivery channel risk?

Which of the following is not part of a simplified due diligence assessment?

Which of the following would not require an enhanced due diligence assessment?

Which of the following actions does not need to be undertaken as part of an ongoing monitoring process?

You scored

0

out of

0

Test passed. Enter your details to download your certificate. Your certificate will also be sent to you by email.

Our sites

Useful links

Using this site

Contact us

Planned system updates