Glossary
The acronym PEP is short for this term.
What is a Politically Exposed Person?
This is the means of cleaning illegally obtained funds through a financial institution.
What is Money Laundering?
Client Risk, Geographical Risk and Transaction Risk.
What are the categories of risk?
The abbreviation ISAR is short for this term.
What is an Internal Suspicious Activity Report?
This form is known as the Customer Risk Assessment form.
What is Appendix 1?
The abbreviation AMLA is short for this term.
What is the Anti-Money Laundering Authority?
This is the act of sending of transactions through multiple financial institutions to limit tracking.
What is Layering?
This is valid identification but cannot be used to verify identity.
What is a birth certificate?
I saw something suspicious... What should I do?
What is contact your Compliance Officer?
You fill out this form when you need to make an ISAR.
What is Appendix 11?
The abbreviation CFATF is short for this term.
What is the Caribbean Finacial Action Task Force?
The stage of money laundering that illegal funds are introduced into the financial system.
What is Placement?
______________screening and _________ screening.
What are the two types of Client Screening?
The following is considered a _________ ?
"Unknown sources of funds of transactions"
What is a type of suspicious transaction?
Appendix 10 has this title.
What is Red Flags?
The acronym CDD stands for.
What is Customer Due Diligence ?
An approach that involves thoroughly evaluating the potential risks that CIREL may encounter.
What is a Risk-Based Approach ?
The continuous observation of client transactions.
What is Ongoing Transaction Monitoring?
This is act of alerting someone that they are under investigation by law enforcements.
What is Tipping Off?
An agent can find a list of approved persons for certification of customer information in this form.
What is Appendix 8?
The acronym MLFTA is short for this term.
What is the Money Laundering and Financing of Terrorism (Prevention and Control) Act ?
Risk Management and Mitigation.
What is one of the key elements of CIREL' 's RBA?
This List comprises of countries that are under increased monitoring by the FATF.
What is the Grey List?
What is the length of time that CIREL will retain documents.
What is 5 years or longer as a period if it is requested by the AMLA or other higher authority?
These forms are use to collect KYC information.
What are Appendices 3, 4, 5 and 6?