AML Flashcards
1
Q
What is the AML regulation
A
Anti money laundering, terrorist financing and transfer of funds 2017
2
Q
What are some of the provisions of AML 2017
A
Staff training
AML officer
Undertake AML checks
Keep records
3
Q
How do you undertake DD on a customer?
A
ID and address
Passport
4
Q
How do you under take DD on a client company?
A
Company name and address of office
Information on directors
Nature of business
5
Q
What is enhanced DD
A
DD on high risk counties
DD on politically exposed figure
More checks required
6
Q
How much cash can you accept
A
10000E
7
Q
What are the AML penalties
A
14 years or unlimited fine
8
Q
Name some red flags?
A
Not willing to give details
Unusual currencies
Unusual transactions
