Fraud Management & Anti-Money Laundering Exam
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Welcome to your Fraud Management & Anti-Money Laundering Assessment
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Question 1 of 28
External fraud is defined as illegal acts carried out by employees against the company that they work for.
Question 2 of 28
Criminal fraud is when someone alters documents or conceals evidence in order to enjoy personal gain.
Question 3 of 28
Financial Conduct Authority (FCA) has developed a guide for companies, which was published in April 1990.
Question 4 of 28
Phishing is a malicious software that includes computer viruses, worms, and trojans.
Question 5 of 28
One of the most common types of fraud experienced today is identity fraud.
Question 6 of 28
Unsupervised learning method is when there is a target variable with values that are known and where predictions will be made using other variable values as input.
Question 7 of 28
An employee paying two cheques each time they pay a bill can amount to hundreds of thousands over a few years.
Question 8 of 28
Investment fraud is when stock investors are targeted and the fraudster will attempt to steal their identities and money.
Question 9 of 28
4,500 people in the United Kingdom are victims of bank fraud each and every day.
Question 10 of 28
Employee fraud is when an employee sees a crack in the system and takes advantage for their own personal financial gain.
Question 11 of 28
On the books fraud will leave no or very little audit trail, making it very hard to investigate and prove.
Question 12 of 28
Supervised learning involves data where there is no target variable.
Question 13 of 28
Identity fraud makes up the 71% of all frauds and is followed by misuse of facility fraud.
Question 14 of 28
External fraud can include procurements.
Question 15 of 28
Internal fraud occurs when an employee deceives a customer or vendor.
Question 16 of 28
Illegal gratuity is another way to describe bribery.
Question 17 of 28
Outlier detection measures the distance between data points.
Question 18 of 28
Insurance fraud is often also referred to as embezzlement
Question 19 of 28
There were 430,630 fraud offences in England and Wales in 2014/2015.
Question 20 of 28
Internal fraud can include personnel management.
Question 21 of 28
Fear is one of the fraud motivators that you need to be aware of.
Question 22 of 28
Fraud against the public sector is estimated to be £10.6 billion per annum.
Question 23 of 28
False vendor payments are very common within companies and one of the easiest ways for fraud to occur.
Question 24 of 28
Corporate fraud is when a person is targeted directly.
Question 25 of 28
Corporate Espionage is when a company’s intellectual property rights and secure information is stolen.
Question 26 of 28
Kickbacks often takes place through a revenue overstatement.
Question 27 of 28
Money mule schemes focus on unsuspecting victims to become money mules in the heart of a money laundering process.
Question 28 of 28
Terrorist financing relates to the processing of funds with the intend to sponsor a terrorist activity.