Sep ’11 – Nov ’11 Quiz Issue: Vol. 10 No. 4 Table of Contents Please login or join today for member only downloads and resources. Take the Quiz 1. Fraud and money laundering are intricately connected both in terms of criminal activity and regulatory requirements.* True False 2. What are some of the key regulatory bodies or groups that set AML standards nationally and globally?* A) OFAC B) OFSI and FINTRAC C) FATF and FINCEN D) Both B and C 3. In the ACAMS Today article titled, "The AML Monitoring Gap Insider Complicity," what are some of the steps the OCC’s Comptroller’s Handbook recommends helps detect insider complicity?* A) Implement a stringent employee screening process B) Review accounts and lifestyle activities of key employees, especially those assigned to higher risk areas and accounts C) Ensure that internal controls address insider complicity on an ongoing basis D) Test for insider complicity as part of the internal auditing program E) All of the above 4. Reduction of false positives is the key to achieving efficiency in sanctions and politically exposed persons (PEPs) screening.* True False 5. In the ACAMS Today article titled, “India-Committed to Combating Money Laundering,” what are the main sources of money laundering noted in The FATF’s Mutual Evaluation report of India published in June 2010?* A) AML/CTF deficiencies B) Drug trafficking, fraud, counterfeiting Indian currency, transnational organized crime and human trafficking C) Insider complicity Δ
