Jun ’10 – Aug ’10 Quiz Issue: Vol. 9 No. 3 Please login or join today for member only downloads and resources. Take the Quiz 1. There isn’t a difference in the definition of beneficial ownership for corporate and legal entities.* True False 2. Recommendation 15 from the 40 Recommendations, which was published by FATF, states:* A) Countries should ensure that financial institution secrecy laws do not inhibit implementation of the FATF Recommendations B) Financial institutions should not keep anonymous accounts or accounts in obviously fictitious names C) Financial institutions should develop programs against money laundering and terrorist financing 3. In many cases, ________ is considered to be formed through the intersection of the investigative, legal and IT disciplines that could not otherwise exist on their own.* A) E-Discovery B) FCPA C) Bribery 4. According to the article "Achieving Continuous Improvement in BSA/AML Compliance," an effective BSA/AML compliance program must not only be based on the four pillars, but five building blocks. Which is not one of the five building blocks mentioned in the article?* A) Following-up B) Evaluating C) Planning D) Independent review E) Executing 5. Depending on the facts and circumstances of a particular case, an OFAC investigation may lead to:* A) No Action B) Finding of Violation C) Civil Monetary Penalty D) Cautionary Letter E) All of the above Δ
