Anti Money Laundering

Question 1 of 30 Question Score: 1
Screening the names of all existing and proposed customers to ensure that their names do not
match with the names in negative lists provided by UN or other regulatory lists primarily
helps in:
Combating Financing of Terrorism
Identifying the customer and verifying the customer's identity
Processing criminal proceeds
Use of multiple cash deposits each smaller than the minimum cash reporting requirement is
called:
Smuggling
Smurfing
None of the above
Adequate diligence is the fundamental requirement for any business transaction:

True
False
Photo debit card of the customer is used for:

Identity proof
Address proof
Not an acceptable OVD
ICICI Group AML policy is applicable to all activities of the bank including its SBU's in
India and abroad:
True
False
Placement stage is when cash is channeled into:

Banks & Financial Institutions
Safe houses
Securities
Illegal activity where stacks of gold, cash, jewellery or even rare stamps are moved from
place to place is called:
Smurfing
Smuggling
Structuring
As per Regulation, KYC updation for low risk customers should be done
at least once in 2 years
Transactions undertaken for non-account holders which exceeding Rs.50,000/- or which is an
international money transfer transaction requires full KYC
True
False
Which of the following is not a source of illegal money:

Drug trafficking
Smuggling
Charity
It is relatively very difficult to detect money laundering at this stage

Layering
Integration
Trafficking
The suspicious activity with respect to AML can be reported through which option in ICICI
Universe page?
Report a Suspicion
Money Laundering Reporting
Report A Fraud
A bank account is opened in the name of 'X' with full KYC of 'X'. 'X' later sells his account to
'Y', who is now using the account and 'X' is not aware of the trasnactions in the account. Such
an account is called
Fraudulent Account
A money mule account
Power of Attorney arrangement
Branches may open accounts for those customers who are not able to provide KYC
documents, provided, the total credit summation in all the accounts taken together is not
expected to exceed ₹__________in a year.
₹1 Lakh
₹2 Lakh
₹50,000/-
At this stage, money laundering is relatively easy to detect

Integration stage
Placement stage
Layering stage
At the integration stage of the money laundering process:

Illegal funds are moved back into the economy disguised as legitimate
funds
smurfing is done to avoid reporting requirements
This is not a step in the money laundering process:

Placement stage
Integration stage
Recovery stage
PMLA imposes the following obligations on banks:

Maintain records of all customer identification and transactions for specified
period
Ensure confidentiality of information
Furnish all the regulatory reports to the FIU
Customer identification procedures fall under which aspect of regulation:

Know your customer Regulations
Credit and Market Risk Regulations
Operational Risk management
Customer transaction records need to be retained for how many years as per the PMLA
5 years from date of account closure
Fresh proof of address shall not be sought at the time of Periodic Updation (Re-KYC) for
_________ customers in case there is no change in their identity and address. Self
Certification will suffice.
Low risk customers
Small account holders
High risk customers
This document is accepted as an identity proof at the time of opening the account:
Photo debit card
Driving license
Ration Card
As per PMLA, tipping off is an offence and the employees should be cautious not to violate
this during their interactions with the customer or any other third party
True
False
Informing or communicating to customers or any other third party (directly or indirectly) that
a particular account has been or is in the process of being reported for suspicious activity or is
under investigation by FIU-IND is called
Smurfing
Wilful blindness
Tipping Off
Disclosure
Which of the following transactions requires an enhanced due diligence to determine whether
it is suspicous
Frequent large value cash
transactions in the bank account of a
salaried person
Large value foreign exchange
remittances in the account of a large
reputed import export company
Which of these is a suspicious transaction:

Large value monthly salary credits
in the account
Regular debits to the account by way
of customer standing instruction to
transfer funds to his/her another
bank account
Customer makes or receives huge
deposits or remittances which
exceed his/her annual income
What are the key Anti Money Laundering objectives of ICICI bank:
To protect the bank's reputation
To ensure compliance with the laws and regulations in force from time to
time
None of the above
Two of the elements of ICICI Group AML Policy are

Customer acceptance policy
Customer identification procedures
None of the above
Both of the above
Customer due diligence is an approach taken by the bank to:

Identify and verify customers and beneficial
owner
Formulate group AML standards
Foster new SBUs
There can be more than one red flag indicators in a transaction

False
True

Anti Money Laundering

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Anti Money Laundering

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Question 1 of 30 Question Score: 1

Question 2 of 30 Question Score: 1

Question 3 of 30 Question Score: 1

Adequate diligence is the fundamental requirement for any business transaction:

Photo debit card of the customer is used for:

Placement stage is when cash is channeled into:

Which of the following is not a source of illegal money:

It is relatively very difficult to detect money laundering at this stage

At this stage, money laundering is relatively easy to detect

At the integration stage of the money laundering process:

This is not a step in the money laundering process:

PMLA imposes the following obligations on banks:

Customer identification procedures fall under which aspect of regulation:

Which of these is a suspicious transaction:

Two of the elements of ICICI Group AML Policy are

Customer due diligence is an approach taken by the bank to:

There can be more than one red flag indicators in a transaction

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