What are the three common stages in money laundering?
a) Placement, layering, and integration.
b) Investigation, prosecution, and conviction.
c) Identification, prevention, and detection.
d) Monitoring, reporting, and enforcement.
What is the maximum penalty for an offense of contravening a specified provision in the AMLO with the intent to defraud any authority?
a) Imprisonment of 2 years and a fine of HK$1 million
b) Imprisonment of 7 years and a fine of HK$1 million
c) Imprisonment of 14 years and a fine of HK$5 million
d) Imprisonment of 3 months and a fine of HK$50,000
What are the primary record-keeping requirements under the AML/CFT regulations?
a) Retaining records for a period of 1 year
b) Retaining records for a period of 5 years
b) Retaining records for a period of 7 years
b) Retaining records for a period of 10 years
The frequency of BOSCI should review the Institutional Risk Assessment (IRA) with material impact on the firm’s business and risk exposure is:
a) at least every 6 months
b) at least every 1 years
c) at least every 2 years
d) at least every 3 years
