CISI UAE FRR Financial Crime & AML/CFT UAE

Question 1

What are the three stages of money laundering?

Accepted Answer

Placement, layering, and integration

Answer

Detection, reporting, and prosecution

Answer

Identification, verification, and monitoring

Answer

Suspicion, investigation, and freezing

Question 2

In the UAE, the financing of terrorism is criminalised under:

Accepted Answer

Federal Decree-Law No. 7 of 2014 on Combating Terrorism

Answer

Federal Law No. 14 of 2018

Answer

CBUAE Circular No. 24/2000

Answer

Cabinet Resolution No. 10 of 2019

Question 3

What is 'structuring' in the context of UAE AML regulations?

Accepted Answer

Breaking up large cash transactions to avoid reporting thresholds

Answer

Organising a bank's compliance department

Answer

Structuring loan repayment schedules

Answer

Designing investment portfolios

Question 4

Under UAE AML laws, the maximum prison sentence for a money laundering conviction is:

Accepted Answer

10 years

Answer

2 years

Answer

Life imprisonment

Answer

5 years

Question 5

Which UAE body coordinates the national strategy to combat money laundering and terrorism financing?

Accepted Answer

National Committee for Combating Money Laundering and Financing of Terrorism (NAMLCFTC)

Answer

Central Bank of the UAE

Answer

Ministry of Foreign Affairs

Answer

Abu Dhabi Executive Council

Question 6

What does the UAE's 'goAML' system facilitate?

Accepted Answer

Electronic submission of Suspicious Transaction Reports to the UAEFIU

Answer

Online banking for government employees

Answer

Automated anti-money laundering transaction monitoring

Answer

Licensing applications to the CBUAE