AML KYC MIND JOG

What are the stages of money laundering (Select in order)

• Integration-Layering-Placement

• Layering-Placement-Integration

• Placement-Layering-Integration

• None of the above

In the ____________ stage of Money laundering, multiple accounts, intermediaries, banks, trusts, countries used to disguise source of the funds.

• Placement

• Integration

• Compliance

• layering

In the ________________ stage of money laundering, illegal funds/assets are brought into the financial system.

• Placement

• Integration

• layering

• Compliance

Financial institutions which do not have a physical presence. A relationship with these entities is prohibited unless they are bank affiliates with a physical presence.

• Shell Corporation

• Unregulated casinos

• Unclicensed banks

A predicate offense is a criminal activity which precedes money laundering?

• True

• False

Which of the following is not a stage of KYC?

• Profiling

• Identification

• Verification

• Integration

The following categories of Clients require enhanced due diligence except?

• Politically exposed persons

• Financial institutions including forex bureaus

• Illegal products and services

• Non governmental organizations

An account that can be used by money launderers to deposit and withdraw money from different locations almost instantaneously is called a?

• Current Account

• Parellel account

• Funnel account

The government body in Kenya where financial institutions and other reporting entities are mandated to report suspicious transactions is called

• Central bank of Kenya (CBK)

• Banking Fraud and Investigations department (BFID)

• Financial Reporting center (FRC)

• Directorate of Criminal Investigations (DCI)

The bank does not enter into business relationship with businesses with no verifiable physical location with at least 1 permanent employee. These type of entities are called

• Shell companies

• Shelf companies

• Unlicensed companies

• Unregulated companies