Welcome to Financial Crime World - quiz

What is the meaning of SET shortcut?

• Specialist Escalation Team

• System of External Transfer

• Second Event Triger

The main aim of the Payments Screening process is to analyze all inbound/outbound and intermediary payments against 3 Watch Lists:

• Dow Jones, Experian, Omnidox

• Dow Jones, Experian, Boiler Room

• Dow Jones, PSWL, Boiler Room

What are the consequences for Santander of getting Name Screening wrong?

• Financial and Operational

• Financial, Operational and Regulatory

• Operational

What is the meaning of EDD shortcut

• Enhanced Due Diligence

• End of Due Diligence

• External Due Diligence

There are a number of different customer channels where due diligence is required:

• New To Bank (NTB), Supporting Data point and Approved Data point

• Trigger Event and Periodic Review (PR)

• New To Bank (NTB), Periodic Review (PR) and Event-Driven Review (EDR)

What is the role of OBE Secretariat

• is

  responsible for undertaking the

  initial check to see if there is a readily identifiable basis for closing the alert

• Controls flow of cases between Case Handlers and Analysts from Local Decision Team, making sure that all case details are correct and not missing.

• is initiate when material change in the customer or its ownership structure is observed.

The CRA rating is used to determine:

• The level of due diligence required

• The approvals required for customer acceptance and frequency of the periodic review cycle

• all above answers are correct

Know You Customer (KYC) is a process of verifying:

• Clients balance above 1 million pounds

• Clients identity

• Number of clients on external account