Audit Questions Flashcards
(19 cards)
Who is the Money laundering reporting officer ?
Howard Newton
What should you do if you suspect money laundering ?
Send the Money Laundering Reporting Officer an SAR (Suspicious Activity Report).
What ID can be used ?
Passport and Driving license. If neither I would look on the back of an ID certificate.
What is the company’s code word ?
Please can you cancel my appointment with David Parry.
Explain the lone-working policy.
Registering customers correctly, putting all appointments into the diary, informing colleagues if you running late, if you have a late viewing inform your manager when you are back.
Can be found on intranet section 2.7.
What are the 3 offences of Money Laundering ?
Tipping Off = 2 Years, a fine or both.
Failure to Report = 5 years, a fine or both.
Assisting = 14 years, a fine or both.
What process does the company have in place for verification of identity ?
Know your client.
How do we verify company sales / purchases ?
Establish the company exists then obtain ID for the share holders.
What would make you suspicious of money laundering ?
Something unusual or unexpected, something that doesn’t sit right.
What are the warning signs of suspicious behaviour ?
- Refusing to provide ID.
- An unusually sized transaction.
- Not able to show clear source of
Funds. - Making purchases highly above or below the market value.
Who is responsible for ID for Vendors ?
The instruction taker, before progressing the instruction.
Who is responsible for the ID of the purchases ?
The Branch Manager
Who should make a report to the Money Laundering officer ?
Me
Where should you keep a copy of the report ?
You shouldn’t - Destroy it but keep a record it has been sent.
What is bribery ?
Bribery is a criminal activity and is the promise or giving of a financial or other incentive as a reward for working improperly.
What is the penalty for bribery ?
10 years, fine or both.
How much cash or vouchers can you accept ?
None
Who is the head of financial crime ?
Paul Barlett
Who is the data protection officer ?
Andrew Kinglake
