Data Protection And Money Laundering

Question 1

Data protection act - right to privacy 2018

Answer 1

Fee 40 pa turnover of max 632,000
Fee 60 turnover max 36 million
Large fee 2900

Question 2

Who is data handler

Answer 2

Nominated 1 person

Question 3

What data is defined in the legislation

Answer 3

Info:
Name 
Postal address
Email address
IP addrss 
Cookie identifier 
Biometric password

Question 4

CATCH

Answer 4

Confirm 
Appoint - MLRO  money laudering officer 
Train 
Control 
Hold  - hold records for 5 years

Question 5

CDD meaning

Answer 5

Customer due diligence

Question 6

Main money laundering legislation

Answer 6

Terrorism act 2000
Proceeds of crime act 2002
Criminal finance act 2017

Question 7

Who needs to register for money laundering supervision

Answer 7

All but lettings Agents with below 10 k monthly rent

Auctioneers already registered with hmrc

Question 8

Fine for data breach

Answer 8

Max fine 17m or 4% glabal annual turnover

Question 9

Rights to data subjects

Answer 9

Right to be informed 
Right if access 
Right to rectification 
Right to erasure 
Right to restrict processing

Question 10

Data protection principles

Answer 10

Collected for specified purpose
Held with consent
Processed lawfully
Limited to purpose fir which it was collected
accurate
Not kept for longer than necessary
Krutilnikow securely and not accidentally lost