Combating Financial Crime – Quiz 02

Last Updated: June 2024

Table of Contents

CISI – Combating Financial Crime Quiz 02 is covered –
understand the models of the money laundering process: • Placement, Layering, Integration model (PLI) • the ‘enable, distance, and disguise’ model (EDD)
know these associated activities as defined by the Proceeds of Crime Act (POCA) (2002): • concealment • arrangements • acquisition, use and possession • failure to disclose • tipping off • consent regime • criminal conduct • criminal property
know the role, purpose and scope of The Money Laundering, Terrorist Financing and Transfer of Funds (information on the payer) Regulations (MLR 2017) as amended
understand how the stages of the money laundering process are detected by financial services firms in the regulated sectors
know the role, purpose and scope of international instruments and conventions • UN conventions • Directives/Regulations of the European Union – 2015/849/EC (4th Money Laundering Directive) 2018/843/EC (5th Money Laundering Directive) 2018/1673/EC (6th Money Laundering Directive) 2015/847/EC (Fund Transfer Regulations)
know FATF’s risk-based approach to AML and combating the financing of terrorism (CFT)
know the broad categories of what the recommendations cover
know the categorisation of jurisdictions which FATF considers to have strategic deficiencies
understand the role, activities, and coverage of FATF Style Regional Bodies (FSRBs)
know the role other bodies play in combating money laundering and establishing best practice • Basel Committee on Banking Supervision • International Organization of Securities Commissions (IOSCO) • International Association of Insurance Supervisors (IAIS) • Egmont Group of Financial Intelligence Units • Wolfsberg Group • Regulatory and supervisory bodies • Professional bodies

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