AML & Sanctions
The 2nd stage of money laundering seeks to conceal, remove traces and evidence of the illegitimate origin of funds.
What is Layering?
The 2nd Line of Defense.
Who is Risk Steward?
The documentation/platform we raise/use when there is an internal event.
What is Global Event Management System (GEMS)?
This is ensuring we deliver fair outcomes for our customers and that we do not disrupt the orderly and transparent operation of the financial markets.
What is Conduct?
This is said to have occurred once confidential information is sent to other than the intended recipient.
What is ISR Breach?
The three stages of money laundering.
The payments that are being made by the Group to an account with a different legal name than that of the counterparty transacted with. The recipient account may be held by the Group or by another Financial Institution.
What are Third Party Payments?
The risk of loss resulting from inadequate or failed internal process, people and systems from external events
What is Operational Risk?
One of the following is not part of Risk Conduct and Culture Framework.
Risk Behaviour, Risk Mitigation, Supportive Environment, Risk Ownership
What is Risk Mitigation?
The document used to report Financial Crime concerns for further investigations.
What is UAR/Unusual Activity Reporting?
The disclosure of information that is likely to prejudice an actual or proposed investigation into the possible money laundering activity of a customer.
What is Tipping Off?
This is the golden source of client data, which feed static data systems such as ISD, Assassin, BCC, and MAC that flow through subscribing system like Summit HUB, TREATS, OTP, and DTP.
What is ERDS/ Entity Reference Data System?
The relevant FIM for Trade Settlement.
What is FIM 12.5?
The system of values and behaviours present in an organisation that shapes risk decisions of management and employees.
What is Risk Culture?
The risk that the Bank's employees and 'non-employees' may cause operational, financial, regulatory or reputational harm to the Bank through criminal actions, support to criminality or by deliberately acting against the Bank's interests.
What is Insider Risk?
The countries that are under our sanctions list.
What are Iran, North Korea, Crimea region, Cuba, and Syria?
The methods of payment used for trade transactions conducted on "Open Account" terms.
What are Cash, Cheque, and Wire Transfer?
The Group's definition of Risk Appetite.
What is type and quantum of risks that the Bank is willing to accept in achieving its medium and long-term strategic goals?
The five pillars of GM Operations Risk Conduct and Culture Framework. Name all five.
What are risk awareness, risk behaviour, risk ownership, risk leadership, supportive environment?
On breach notification, this is the mandated period for personal data security breaches to be reported to the relevant supervisory authority.
What is 72 hours?
Give five of eight classifications of Politically exposed persons (PEP).
Who are
Senior staff in executive, legislative, administrative, military or judicial branches of government;
Head of government agencies;
Member of a ruling royal family with ties to government;
Members of major political parties;
Senior executives of a charity, corporation or institution owned or funded by government;
Family member of PEP;
Close associates of PEPs;
Entities whose owners or controllers are PEPs?
The following are prohibited by the Anti-Bribery & Corruption Policies. There may be more than one correct answer.
1. Bribes paid to facilitate an action that a public official should do anyway, but the bribe is designed to encourage them to do it faster.
2. Cash gifts from staff to customers or third parties.
3. Bribes that are above our threshold limits only.
4. Entertainment to customers that cost more than USD 5000
What are 1 and 2?
The purpose of Sanctions Exposure Questionnaire (SEQ). There are three, name two.
What are
Facilitate a deeper understanding of our customer and the activities they undertake; Provide an up-to-date view of the sanctions risk our customer poses to the bank; Ensure a globally consistent approach in assessing sanctions risk exposure across the Lines of Business?
There are four principles under Risk Leadership. Name three.
What are Embedding a strong risk culture, Effective tone-from-the-top communication, Being a positive role model, and Valuing good conduct in our people?
The purpose of General Data Protection Regulation (GDPR). There are two, name one.
What is designed to protect the data privacy of individuals in the European Union and harmonise data privacy laws across the EU?