SPENN Agent AML Training Post author By Maisie Post date January 13, 2023 No Comments on SPENN Agent AML Training Please go through the powerpoint and then answer the questions below. Enter your name Enter your phone number 1. The beneficial owner is defined as: (a) the Board of Directors of the company; (b) a customer who benefits from the company’s products or services; (c) a company or a person who owns or controls the company and/or on whose behalf a transaction is being conducted; (d) a natural person who ultimately owns or controls the company and/or on whose behalf a transaction is being conducted; (e) Answers (a) and (c) are correct. 2. Why is it important to determine beneficial owners of our business customers (more than one answer correct)? (a) It is a legal requirement (b) It is a recommended practice (c) Criminals can use corporate vehicles to stay anonymous while doing illegal things (d) Owners of the company can be sanctioned persons (e) All of the above 3. To whom a report of suspicious activity should be sent? (a) To Blockbonds Top Management team (b) To Compliance Officer (c) To all work colleagues that can be interested in the report (d) To Compliance Officer and the Customer 4. What is the new approach to beneficial ownership (especially highlighted in 5th AML EU Directive)? (a) It is required to know the largest shareholder (b) It is required to understand and be able to explain ownership structure (c) It is enough to know what customer is happy to disclose (d) “thick box” approach 5. What should we do if the business customer refuse to provide or update information about beneficial ownership? (a) We should check if the company really exist by online search, and if it is, onboard or keep the customer. (b) We should not onboard or continue relationship with the customer. (c) We should inform about it the tax authorities, but we can onboard or keep such customer. (d) We can onboard such customer if KYC Manager allow it, but we must monitor him closely. 6. What is a shell company? (a) A company that at the time of incorporation has no significant assets or operations, usually no physical presence other than a mailing address. (b) A corporation that has had no activity since creation, later sold to someone who prefers a previously registered corporation over a new one. 7. In Your own words, please explain what is tipping off? 8. In Your own words, please describe what to do if You detect a suspicious transaction or suspicious customer behaviour? 9. Please list five reasons why Charities or Non-profit organisations are attractive to criminals to disguise illegal activity? 10. What do we risk if we do not establish who is/are the beneficial owner/s of a business customer? Time is Up! Time's up Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment.
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