Mini training aid—AML—the law and red flags—post-training assessment answers

The following Risk & Compliance precedent provides comprehensive and up to date legal information covering:

  • Mini training aid—AML—the law and red flags—post-training assessment answers

Mini training aid—AML—the law and red flags—post-training assessment answers

QuestionAnswers
1. What is money laundering?(a) The process through which proceeds of crime and their true origin and ownership are changed so that the proceeds appear legitimate
2. What is terrorist financing?(b) Providing/collecting funds from legitimate or illegitimate sources for terrorist acts
3. What are red flags?(a) Warning signs of money laundering and terrorist financing
4. What would put you on notice in relation to a customer?(b) An obstructive or secretive customer
5. What is not a red flag in relation to the instructions?(b) Retainers where at least one party is outside the UK
6. What would not be a cause for concern in

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