COMPLIANCE AND FRAUD AWARENESS QUIZ
Quiz by Hafsat Lawal
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- Q1
What constitutes fraud?
Any mistake made by an individual or organisation
Any action that is against company policy
Any intentional deception made for personal gain or to cause harm
Any action that results in financial loss
20s - Q2
What can a business provide to its employees as a fraud prevention procedure?
Reporting
Background check
Audits
Competitive Pay
20s - Q3
What should you do if you suspect a transaction is linked to money laundering?
Delay the transaction until you are sure
Report it to the compliance officer immediately
Ignore it
Inform the customer
20s - Q4
What is the main purpose of Customer Due Diligence (CDD)?
To market new products
To collect marketing data
To verify customer identity and assess risk
To increase customer engagement
20s - Q5
What should you do if you accidentally receive confidential data not meant for you?
Forward it to your colleagues
Delete it immediately and notify your line manager or compliance officer
Ignore it
Post it on the internal chat for clarification
20s - Q6
Training on fraud is one of the ways the organisation promotes fraud awareness.
False
True
20s - Q7
What is the purpose of identifying red flags in fraud prevention?
To justify an increase in company’s expenses
To alert management and prevent fraud from occurring or continuing
To punish employees suspected of fraud
To impress auditors with the company’s diligence in preventing fraud
20s - Q8
Which of the following is a key objective of a compliance program?
To monitor employee attendance
To ensure adherence to laws, regulations, and internal policies
To manage marketing activities
To handle IT infrastructure
20s - Q9
Which of the following best describes “confidential information”?
Company or customer data not meant for public disclosure
Marketing materials
Social media posts
Information shared with the public
20s - Q10
A long-term customer begins making multiple small deposits just below the reporting threshold, then wires the total amount overseas. What is the most appropriate action?
Wait for a pattern to develop over several months before reporting.
Inform the customer that their activity looks suspicious.
Report it to the Compliance Officer immediately
Do nothing — the amounts are below the threshold.
20s - Q11
The Fraud Triangle is a model used to understand fraud. Which of the following is NOT typically considered an element of the Fraud Triangle?
Incentive/Pressure
Risk
Opportunity
Rationalization
20s - Q12
The fraud triangle model was developed by a sociologist named -----------------.
Robert K. Merton
Donald Cressey
Theodor Adorno
Emile Durkheim
20s - Q13
Which of the following best demonstrates Enhanced Due Diligence (EDD)?
Performing annual CDD updates for all customers.
Verifying only business registration documents
Collecting a copy of a customer’s ID card
Asking for proof of source of funds for a high-risk PEP account
20s - Q14
What is the purpose of a whistleblowing policy?
To handle customer complaints
To provide a safe way for employees to report misconduct without fear of retaliation
To punish employees who report issues
To manage employee attendance
20s - Q15
Which of these is a common method of concealment used by a typical fraudster?
Manipulating financial records
All of these
Creating false document
Altering or destroying documents
20s