Which of the following statement is FALSE?Terrorist financing uses funds for a criminal political purpose, with funds not necessarily sourced from illicit proceeds.Money laundering nearly always involves proceeds of illegal activity. Purpose is to enable use of funds legally.Terrorist financing and money laundering has similar methods with secrecy a common feature, but terrorist financing has greater use of ARS.Terrorist operations financed by small amounts of money, while money launderers attempt to ‘clean’ large value monies.Counter-terrorist financing (CTF) focus on destination of funds while anti-money laundering (AML) focus on source of funds.Group of answer choicesNone of the available answersAnswers I and III and IV onlyAll available answersAnswers III and V onlyAnswers II and IV and V only

A source of funding that is likely to be used in both terrorist financing and money laundering is: (select all that apply, if any)Group of answer choicesWealthy DonorsFraudDrug traffickingCharities

During the Terrorist Financing ‘funding stage’, which of the following source-of-funds are ILLEGAL? (Select all, if any, that apply)Group of answer choicesWealthy donorsNon-profit organisations (NPOs)KidnappingHuman traffickingFraudSelf-funding from businessesCharitiesDrug trafficking

The purpose of the Anti-Money Laundering and Counter- Terrorism Financing Act 2006 (Cth) is to:Group of answer choicesCreate an effective Financial Intelligence Unit (FIU) & Regulator - in Australia, the Australian Transaction Reports & Analysis Centre (AUSTRAC)Prevent money laundering & terrorist financing by imposing obligations on the financial sector, bullion & gambling sector, remittance sector & digital currency exchangesAll available answersComply with the FATF Standards on ML, TF & proliferation financingNone of the available answers

One of the ways of money laundering is:-Select one:a. Investment of money in front/shell companiesb. Through proper bank accountsc. Through gold smugglingd. All of these are correct

Who is best placed to spot suspicious activity indicative of money laundering or terrorist financing?Choisissez la meilleure optionCompliance team Money Laundering Reporting Officer Everyone at Revolut, regardless of their position Senior Management