AML

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Across
  1. 1. This entails a process whereby many individuals deposit cash or purchase bank drafts in amounts just under the reporting threshold
  2. 2. The first stage of money laundering process in which the money is introduced through various channels e.g., it is deposited into a bank account after the larger amount is fragmented and made to appear less obvious.
  3. 4. Thousand of dollars used as a general threshold for the Counterparty due diligence requirements in AML
  4. 8. The third stage of money laundering process in which the funds are moved back into the country of origin at which stage the ‘black money’ is whitened
  5. 10. General term for any third party conducting or planning to conduct business with Shell. This includes customers, contractors, suppliers, service providers, joint venture parties and counterparties to mergers and acquisitions.
  6. 11. Financial Services Authority of the United Kingdom
  7. 13. Adjective for money derived from criminal activity
  8. 15. Key element of the AML controls to prevent and detect money laundering that increases awareness of the staff at risk
  9. 16. The second stage of money laundering process in which funds are either transferred to another account somewhere around the world on a false pretext or are used to buy securities/instruments so as to move the funds away from the source.
  10. 18. Name of the department to report any case of a real suspicion of actual or attempted money laundering
Down
  1. 1. Level of Due Diligence for low risk situations known as SDD
  2. 3. Number of years to retain records (after the account or the relationship ends) of CDD including investigation and resolution of Red Flag situations
  3. 5. Payment method restricted by Shell Treasury that increases AML risks and could raise a red flag
  4. 6. One of the key elements of the AML control include a fit for purpose Counterparty Due……
  5. 7. Level of the Due Diligence for high risk situations known as EDD
  6. 8. One of the consequence for employees not complying with AML laws
  7. 9. Intergovernmental body founded at the 1989 OECD Economic Summit, to deal with the problem of money laundering
  8. 12. Acronym of the report submitted to external authorities for suspicious activities
  9. 14. Acronym related to the dedicated team in Finance Operations Glasgow that offers support in the initial screening of counterparties
  10. 17. Color of the flag raised in a potentially suspicious or money laundering situation