Obtain the CKYCA PDF Dumps Get 100% Outcomes Exam Questions For You To Pass [Q10-Q25]

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Obtain the CKYCA PDF Dumps Get 100% Outcomes Exam Questions For You To Pass

CKYCA Exam Dumps Contains FREE Real Quesions from the Actual Exam

NO.10 The ownership of a legal person is often described as having two prongs. The first one is the beneficial owner, this is the natural or legal person who owns the entity and who benefits from its activities. The second one is called?

Control Party Prong.

Control Prong.

KYC Prong.

Controlling Prong.

NO.11 A person disclosing to any other person, information or any other matter, which is likely to prejudice a money laundering investigation is known to be?

Dripping off

Ripping off

Tipping off

Dipping off

NO.12 For secondary forms of non-documentary verification. Is the act of someone from the institution ringing up the individual and confirming the verification sufficient?

Yes.

No.

Depends on the client.

NO.13 What is the Primary Money Laundering Regulation in the United Kingdom?

The Money Laundering and Terrorist Financing (Amendment) Regulation 2019

Proceeds of Crime Act

Proceeds of Terrorism Act

UK AML Sanctions Regime

NO.14 Under a risk based approach is a PEP risk manageable If a customer discloses during the KYC, or Know Your Customer process?

No, PEPS are do not fit within the risk tolerance of an organization.

No, PEPs do not need to disclose their status, it is up to the financial institution to find that information out and determine the risk.

Yes, He or she is the spouse of a government official, closely related to the government official

Yes, PEPS need bank accounts and access to financial investment products like everyone else.

NO.15 If the legal structure is overly complex.
What step should the analyst do when conducting Customer Due Diligence in identifying the beneficial owners?

Escalate, A complex legal structure is a sign of hiding the beneficial owner.

Tread carefully, particularly if they operate in jurisdictions with secrecy la

Continue, Most legal structures can be overly complex in a normal business setting.

NO.16 Shell and Shelf Companies are usually what level of customer risk?

Low.

Medium.

High.

Immediately Rejected due to their business profile.

NO.17 What risk increases with non-face-to-face business relationships or transactions, or when payments are sent to or received from unknown or unassociated third parties.

Financial Crime Risk.

Operational Risk.

Channel Risk

Remittance Risk

NO.18 The European Union developed its 5th Money Laundering Directive based in part on the following? (SELECT 3)

A significant change in terrorist attacks in Europe over the previous five years.

The Panama Papers leaks, which identified the extent to which offshore accounts are used to disguise beneficial ownership.

Money Laundering and Financial Crime were deemed by the European Parliament and local committees as to be out of control in countries such as Andorra, Lichtenstein, and Tunisia.

The exit of Britain from the European Regulatory System.

The adoption of cryptocurrencies and other digital channels for money laundering, which are currently unregulated sectors.

NO.19 What are key risks in Financial Crime Prevention Control? (SELECT 3)

Insurance.

Financial.

Reputational.

Regulatory.

NO.20 Who is your customer?

individuals, private companies, dodgy companies, others.

individuals, listed companies, some private companies, others.

individuals, listed companies, private companies, others.

only individuals, listed companies, some private companies

NO.21 What risks are you looking for when a client has requires Enhanced Due Diligence (EDD) (Select 3)

Transaction Risks.

Bank Risks.

Litigation Risks.

Political Risks.

Integrity.

NO.22 What is legal risk? (SELECT 2)

An organization breaks laws when doing business.

An employee who commits a crime unrelated to the organization.

A warning from a regulator.

An employee who commits a crime unrelated to the organization.

NO.23 The first step in the CDD of a legal person is to?

Discover the type of business your customer undertakes.

Find out what the account will be used for, and the level of activity your organization should expect to see.

Understand the ownership structure and to track back to the ultimate beneficial owners and controllers.

NO.24 For the second prong, the control prong, an organization must collect the identity of one person who exercises control over the company.
Which below are deemed acceptable? (SELECT 3)

Chief Operating Officer.

Chief AML Officer.

Chief Compliance Officer.

Chief Executive Officer.

Managing Director.

NO.25 What is the First Line of Defense? (FLOD)

The _______ line of defense is the compliance and internal control functions. That includes the chief money laundering reporting officer, or MLRO, in charge of managing and monitoring AML and CFT activities.

The _______ line of defense is also known as the front line, these customer-facing employees are best-equipped to get the information you need for your customer due diligence. Can include Operations, risk, and control teams.

The ________ line of defense is internal audit. They perform an independent review of the controls applied by the lines of defense.

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