Agent Training | Ria Sikhona

1. What is Money Laundering?

Money laundering is the illegal process of identifying the origins of money obtained illegally

Money laundering is the illegal process of concealing the origins of money obtained illegally

Money laundering is the legal process of concealing the origins of money obtained illegally

1 mark

2. What is Terrorist Financing?

Terrorism financing is the provision of funds or providing financial support to individual terrorists or non-state actors

Terrorism financing is the provision of funds or providing KYC information to individual terrorists or non-state actors

Terrorism financing is the provision of funds or providing the police with evidence of terrorists or non-state actors

1 mark

3. What are sanctions?

Individuals and entities listed on the UN and OFAC list are not allowed to be onboarded by any business

Individuals and entities listed on the UN and OFAC list ARE allowed to be onboarded by any business

Individuals and entities listed on the Sikhona Trade Exchange list are not allowed to be onboarded by any business

1 mark

4. What is tax evasion?

Tax evasion is an attempt from an individual or entity to assist SARS evading government taxes

Tax evasion is an legal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others

Tax evasion is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others

1 mark

5. What are the 3 stages of money laundering?

Placement, Integration, and Installation

Placement, Layering and Integration

Layering, Integration, and Identification

1 mark

6. What is an example of a Professional Money Launder?

A group of field agents who assists employees to report money laundering and terrorist financing for a fee

A group of field agents who report criminals who launder their money across border for a fee or commission is seen as a professional money launder

A group of field agents who assists criminals to launder their money across border for a fee or commission is seen as a professional money launder

1 mark

7. List suspicious behaviour field agents need to look out for.

Customer asks questions about how he/she can transfer large amounts of cash

Customer provides all KYC information and asks relevant questions on how to use the service

Customer wants you to use other senders' profiles to send money

Customer appears nervous and asking a lot of questions on how to use the service especially how payment works

3 marks

8. List how a field agent is able to assist in preventing AML/CFT.

Do not do take part in any money laundering and terrorist financing training

Make sure the customer you are onboarding is the customer in front of you

Do not onboard anonymous customers

Do not create fake customer profiles

Do not create transaction on behalf of customers

Do not collect, receive or have access to customer funds

5 marks

9. List 2 ways a field agent can report suspicious transactions.

Report via complianceza@riamoneytransfer.com

You can also contact us anonymously on #31#0766337431

You can report to another field agent.

2 marks

10. What is the penalty for an individual convicted of assisting in money laundering?

R150 million per offence

No time and no penalty in South Africa

A person convicted of an offence is liable for imprisonment for a period not exceeding 15 years or to a fine not exceeding R100 million

1 mark

11. What is the KYC documents a field agent must obtained from a Foreign passport holder when registering?

Valid Foreign passport

Valid VISA only

Valid or expired foreign ID

1 mark

12. What is the KYC documents a field agent can use to register a customer?

Valid or expired ID documents

Valid foreign drivers licence

Valid foreign passport, valid Asylum or refugee documents/ID and/or SA ID

1 mark

13. Is a field agent allowed to transact on behalf of the customers?

YES

NO

1 mark

14. A field agent is allowed to make payment on behalf of the customers

TRUE

FALSE

1 mark

15. A field agent must attend AML/CFT and Exchange control training before they are able to start registering customers on behalf of Sikhona.

TRUE

FALSE

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1. What is Money Laundering?

1 mark

2. What is Terrorist Financing?

1 mark

3. What are sanctions?

1 mark

4. What is tax evasion?

1 mark

5. What are the 3 stages of money laundering?

1 mark

6. What is an example of a Professional Money Launder?

1 mark

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3 marks

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5 marks

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2 marks

10. What is the penalty for an individual convicted of assisting in money laundering?

1 mark

11. What is the KYC documents a field agent must obtained from a Foreign passport holder when registering?

1 mark

12. What is the KYC documents a field agent can use to register a customer?

1 mark

13. Is a field agent allowed to transact on behalf of the customers?

1 mark

14. A field agent is allowed to make payment on behalf of the customers

1 mark

15. A field agent must attend AML/CFT and Exchange control training before they are able to start registering customers on behalf of Sikhona.

1 mark

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