Question related to Abbr (From a to d)

Question 1

what is Commission Rogatoire also known as

Answer 1

letters rogatory

Question 2

What is Opposite of Concentration Risk

Answer 2

Diversification Risk

Question 3

Examples of Corporate Vehicles

Answer 3

Private limited companies and
public limited companies
(Whose shares are traded on the Stock Exchange)
trusts, 
non-profit organisations, l
Limited partnerships 
Limited liability partnerships,
Private investment companies

Question 4

Why is Corporate Vehicles vulnerable to money

laundering.

Answer 4

Because it is difficult to identify the persons who are the ultimate beneficial
owners and controllers of corporate vehicles

Question 5

what is Alternative Remittance System also known as

Answer 5

Underground banking or Informal Value Transfer Systems (IVTS)

Question 6

What two

general classes are included in the AMLID

Answer 6

!) domestic laws and internationalcooperation

2) information on national contacts and authorities.

Question 7

For cross-jurisdictional work, law enforcement officers use which reference tool

Answer 7

Anti-Money Laundering International Database (AMLID)

Question 8

At a

minimum, the anti-money laundering program should include:

Answer 8

1. Written internal policies, procedures and controls;
2. A designated AML compliance officer;
3. On-going employee training; and
4. Independent review to test the program

Question 9

why are Asset Protection Trusts (APTs) created

Answer 9

It’s a special form of irrevocable trust.

The principal purposes is to preserve and protect part of one’s wealth from creditors.

Question 10

What is a Bearer Form

Answer 10

A form enables a designated
investment or deposit to be sold, transferred, surrendered or addressed to a bearer without
the need to obtain further written instructions.

Question 11

What are Bearer Negotiable Instruments

Answer 11

checks, promissory notes and money orders

Question 12

What are various form of Bearer Negotiable Instruments

Answer 12

are either in bearer form, are endorsed

without restriction,

Question 13

what is Benami Account also called

Answer 13

nominee account.(Held by one person or entity on behalf of another or others)

Question 14

What are Benami Account or nominee account used for

Answer 14

Movement of funds from one jurisdiction to another through a hawaladar. hawaladar may use Benami Account or nominee account to disguise his/her true
identity or the identity of the recipient of the funds.

Question 15

what are different definitions of beneficial owner

Answer 15

1) The natural person who ultimately owns or controls an account through which a transac-
tion is being conducted.

2) The natural persons who have significant ownership of, as well as those who exercise
ultimate effective control over, a legal person or arrangement.

Question 16

Who is a Beneficiary

Answer 16

The person (natural or legal) who benefits from a transaction, such as the party receiving
the proceeds of a wire, a payout on an insurance policy.

In the trust context, all trusts (other than charitable or statutory-permitted non- charitable
trusts) must have beneficiaries, which may include the settlor
While trusts must always have some ultimately ascertainable beneficiary, they
may have no defined existing beneficiaries.

Question 17

what is perpetuity period for trust (Maximum Time Frame)

Answer 17

It normally extends up to

100 years

Question 18

What is Bill Sttuffing

Answer 18

A casino customer goes to various slot machines putting cash in the bill acceptors and collects
cash-out tickets with nominal gaming activity, then cashes out at the casino cage or asks for
a check.

Question 19

What other name is Casa de Cambio known as

Answer 19

“bureau de change” or an “exchange office,

Question 20

why is Casa de Cambio good for money launderers

Answer 20

1) currency exchange and consolidation of small
denomination bank notes into larger ones;
2)exchange of financial instruments such as travelers
checks, money orders and personal checks; and telegraphic transfer facilities

Question 21

Does Cash Collateralized Loans has cash depoists

Answer 21

Yes, it has cash deposits as the loan’s collateral

Question 22

What is a Concentration Account also called

Answer 22

These are also omnibus account

Question 23

what is a collection account

Answer 23

Immigrants from foreign countries deposit many small amounts of currency into one account
where they reside, and the collected sum is transferred to an account in their home country
without documentation of the sources of the fund