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Money Laundering - Level 3 AAT Flashcards | StudBud

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Any handling of criminal property, even something worth £10, is considered Money Laundering.

How can you submit a Suspicious Activity Report? By...

Money Laundering - Level 3 AAT

10 terms·StudBud Administration·174 plays

By Nixon, Joshua and Kasiaa

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Questions 10

Answers

1
How can you submit a Suspicious Activity Report? By...
Fax
Word of Mouth
<p>Postage or Courier</p>
Email
2
Any handling of criminal property, even something worth £10, is considered Money Laundering.
False
True
3
What are the possible penalties for Money Laundering within the UK?
Jail Sentence
Disbarment
Unlimited Fine
Community Service
4
How much money is Laundered throughout the UK every year? Over...
Hundreds of Billions
Hundreds of Thousands
Hundreds of Trillions
<p>Hundreds of Millions</p>
5
What is the definition of Money Laundering?
Illegaly Obtaining Money
Illegally Obtaining Items
Illegally Obtaning Financial Assets
Legally Aquring Money
6
What is the report you send to the NCA to report Money Laundering?
Activity Report for Suspicion (ARS)
Report for Suspicious Activity (RSA)
Suspicious Activity Report (SAR)
Seditious Activity Report (SAR)
7
What is the latest law passed in relation to Money Laundering?
Proceeds of Crime Act 2002
Money Laundering Regulations 2007
Money Laundering Regulations 2009
Serious Organised Crime and Police Act 2005
8
The maximum penalty for Money Laundering within the UK is...
15 Years
9 Years
14 Years
20 Years
9
Who do you report to if you have witnessed Money Laundering?
National Crime Agency (NCA)
A Nominated Officer
Your Manager
Head of Financial Management
10
What Agency came before the current (NCA) National Crime Agency?
Serious Criminal Organisations Agency (SCOA)
Serious Enterprised Crime Agency (SECA)
Serious Organised Crime Agency (SOCA)
Agency for Serious Organised Crime (ASOC)