Credit Compliance Program

What are the detective measures taken by Hong Leong Bank to curb Money Laundering, Terrorism Financing and enforcing Targeted Financial Sanctions?

• Product Assessment

• Name Screening

• Customer Due Diligence

• Transaction Monitoring

Answer explanation

Product Assessment, Name Screening, and Customer Due Diligence are preventive measures.

According to BNM Guidelines on Complaint Handling, decisions / resolutions are required to be provided to customers within 21 days from the date of complaint first lodged.

• True

• False

Answer explanation

Decisions / resolutions are required to be provided to customers within 14 days from the date of complaint first lodged.

What are the early warning signals of a bank run?

• Difficulties in obtaining borrowing from interbank market

• Long queue at branches

• Market rumours that may lead to a positive impact on the business

• Counterparties increasing their credit lines

Loss Event must be reported into the Operational Risk Management Information System (ORMIS) upon detection (i.e. Loss Event with actual, potential or near miss event).

• True

• False

Are close relatives of individual connected parties considered as connected parties of the Bank as well?

• Yes

• No

The Bank prohibits onboarding of customers or business dealings from/with Israel & North Korea.

• True

• False

Answer explanation

The Bank prohibits onboarding of customers or business dealings from/with Iran & North Korea.

Under the AMLATFPUAA 2001, if you are found to be involved in Money Laundering, the penalty is:

• Maximum of 15 years in prison AND a fine of RM5 million

• Maximum of 15 years in prison AND not less than 5 times the sum/value of illegal proceeds

• Maximum of 20 years in prison AND a fine of RM10 million

• Maximum of 20 years in prison AND not less than 7 times the sum/value of illegal proceeds

Fair Treatment of Financial Consumers (FTFC) has 5 principles, namely corporate culture, fair terms, provision of information, fair dealing, and advice and recommendation.

• True

• False

Answer explanation

FTFC has 6 principles, namely corporate culture, fair terms, provision of information, fair dealing, advice and recommendation, and Redress.

Which of Hong Leong Bank’s values is sustainability a key element in?

• Here For The Long Term

• Decisiveness

• Collaboration To Win

• Innovation

Anne is a Resident, and will be going to Melbourne for a holiday to visit her friend, Kate (also a Resident) residing there. Anne wants to make advance payment of $1,000 to Kate for her accommodation in Melbourne. Anne is allowed to make such payments.

• True

• False