Anti-money Laundering Management Flashcards

This flashcard set covers anti-money laundering management, the policies, controls, and people that financial institutions use to prevent criminals from disguising the origins of illicit funds. It moves from the basic meaning of money laundering through the regulatory framework, customer due diligence, transaction monitoring and suspicious activity reporting, and finally program testing and training. Each group builds on the one before it, so the early cards provide vocabulary that later questions assume.

To study effectively, read each question carefully and answer it aloud before flipping the card. Check whether your answer names the three stages of laundering, the purpose of each control, and the reason it exists. Pay attention to the difference between legal requirements and risk-based judgment, since many questions turn on that distinction. Revisit cards you miss, and try to connect each control to a realistic scenario, such as a customer whose account activity does not match their stated business and expected pattern.