23. Anti Money Laundering

Question 1

Money Laundering offences

Answer 1

1. Concealing criminal property
2. Arranging
3. Acquiring,using or possession

Question 2

x6 Identification procedures to be carried out

Answer 2

• New business relationships
• Occasional transaction exceeding 15,000 euros
• Life assurance policies
• suspicion
• doubts
• change of circumstances

Question 3

Joint Money Laundering steering group

Answer 3

aim is to promote good practice in counteracting money laundering

Question 4

Money laundering report officer (MLrO)

Answer 4

All members of staff have to report to them

provide reports of suspicion for the year

Question 5

Improper performance

Answer 5

performance which amounts to a breach