Agent Application Training Questionnaire

Agent Training Questionnaire

Please complete the training questionnaire. A score of 80% is required to be considered for a successful application.

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Step 1 of 4

25%

Staff, Branches and Agent Assessment

Please complete the following questionnaire.

Name*

First Last

Email*

Phone

Shop2Shop Shop Code*

Section A

The following section consists of 30 questions. Choose the correct answer by clicking on the block until an “X” appears or mark the correct answer in the block with an “X”. There can be more than one correct answer!

1. Define ADLA*

Authorised Dealer with Local Authority

Authorised Dealer with Limited Authority

2. What is the ADLA licence/product that we offer? (Cross border Money Remittance service)*

It is a money transfer service for individuals legally residing in SA to send money cross the border to other individuals. It is a money transfer service that individuals residing in SA can use to send amounts, below R5000 at a time to maximum of R25,000 per month, cross border to other individuals.

It is a money transfer service where a business can send funds cross border.

3. How long must you retain a client’s records for?*

3 Years

5 Years

4. The place where the Money Transfer Business is conducted must: (There can be more than one correct answer!)*

Display signage “Independent Money Operator”

Display the foreign currency buying and selling rates

Display all commissions and charges associated with the transactions

A notice informing clients they are entitled to be issued with a receipt for any purchase or sale of foreign currency

5. What is Exchange Control?*

Sending money to foreign countries without a valid reason

Restrictions imposed by the government (Minister of Finance) on the buying and selling of currency

6. Exchange Control regulation 2(4) states that:*

Foreign exchange provided may only be used for the purpose for which it was made available

All individuals are only allowed to purchase a certain amount of foreign currency

7. What is a Foreign national as per the Currency and Exchanges Manual for ADLA’s?*

It is a person from another nationality, outside the CMA area (South Africa, Lesotho, Swaziland and Namibia), temporarily residing in SA.

It is a person from Lesotho, Namibia or Swaziland residing temporarily in SA.

8. What is a SA Resident? (There can be more than one correct answer!)*

A South African citizen.

An individual who has taken up permanent residence and has a SA Home Affairs issued document that is valid.

9. What is the minimum age limit for a client to be registered and transacting on the Money Transfer Platform?*

36 Years

18 Years

10. What are the products that we provide to clients in terms of the ADLA licence?*

Once-off Transfer of R5,000 for individuals who has provided us with their original -ID, Passport, working permit, residency permit or asylum document issued by the South African Home Affairs Department. If they return, they are seen as a client holding a business relationship with us and must present their full set of valid FICA documentation.

Transfers of R5,000 per day limited to R25 000 per month for a business

11. Category code 401 (Gifts) refers to:*

Migrant worker remittances (excluding compensation)

Gifts (must have SA green bar-coded ID book or Smart ID)

12. What types of documents do you need to register a Foreign National for a up to R5,000 once-off transfer?*

Original working- or residency permit or Asylum document issued by South African Home Affairs Department;

Copy of Proof of income in the form of a Pay slip, Employment letter or bank statement.

13. What types of documents do you need to register a Foreign national for R5,000 per day limited to R25 000 per month category?*

Original passport, original working- or residency permit or Asylum document issued by South African Home Affairs Department. Copy of Proof of income in the form of a Pay slip, Employment letter or bank statement.

Copy of Proof of income in the form of a Pay slip, Employment letter or bank statement.

14. What types of documents do you need to register a South African National for a up to R5,000 once-off transfer?*

South African Green bar-coded ID document, South African Smart ID card or South African Passport

Copy of Proof of income in the form of a Pay slip, Employment letter or bank statement.

15. What types of documents do you need to register a South African national for R5,000 per day limited to R25 000 per month category?*

South African Green bar-coded ID document, South African Smart ID card or South African Passport

Copy of Proof of income in the form of a Pay slip, Employment letter or bank statement.

16. What documentation must you obtain if the client is acting on behalf of another person?*

The Identity number of the person on whose behalf the client is acting, and, the clients written authority to act on behalf of that other person.

A client is not allowed to act on behalf of another person.

17. What documentation must you obtain if another person is acting on behalf of the client?*

The Identity number of that person, and, the other person’s written authority to act on behalf of the client.

Another person is not allowed to act on behalf a client.

18. What does AML stand for?*

Anti-Money Laundering

Anti-Terrorist Financing

19. An ADLA must acquaint itself with the POPIA legislation. POPIA stands for:*

Parties of Political Alliance

Protection of Personal Information Act

20. What does T/F stand for?*

Treating Customers Fairly

Terrorist Financing

21. What does FIC stand for?*

Financial Information Centre

Financial Intelligence Centre

22. What is money laundering? (There can be more than one correct answer!)*

Money laundering is the process of transforming the profits of crime and corruption into legitimate assets.

A scheme in which criminals try to disguise the identity, original ownership, and destination of money that they have obtained through criminal conduct.

23. Which of the following could be considered money laundering methods? (There can be more than one correct answer!)*

One person sending money to multiple beneficiaries (One to many)

Many people sending money to a single beneficiary (Many to one)

Transferring money from bank to bank or from account to account numerous times

24. What are suspicious and unusual transactions? (There can be more than one correct answer!)*

Any transaction which brought or will bring proceeds of unlawful activities into the books of Shop2Shop Money Transfer;

Any transaction where the business has received or is about to receive the proceeds of unlawful activities or property which is connected to an offence relating to the financing of terrorist- and related activities

Transactions that cause or may cause Shop2Shop Money Transfer to be used in any way for money laundering purposes

Clients who refuse to provide details about where money is coming from.

Clients who are not willing to provide identification or address details

25. What steps do you take if you suspect that the transaction is suspicious or unusual?*

Turn the client away and report it immediately to the Senior Anti-Money Laundering Compliance Officer

Try and resolve the situation yourself

26. Which of the following are methods terrorists use to move funds? (There can be more than one correct answer!)*

Using remittance services.

Physical transportation of cash/gold etc through smuggling routes.

Sending a lot of smaller transactions in a short space of time.

Formal banking system.

27. Who are examples of domestic PEP’s (Politically Exposed People) in South Africa?*

Ministers of the Government, the President of South Africa and Leaders of political parties.

Local actresses and media personality.

28. Which section of the FIC Act covers the establishment and verification of identity documents?*

Section 28

Section 21

29. How do you establish and verify the identity of a client? (There can be more than one correct answer!)*

Ensure the client has supplied all the required FICA documents and that the customer’s name is the same on all the documents

Verify the information obtained from the client by comparing the originals of the verification documents with the copies supplied.

Face-to-Face Scenario - Make sure that the client standing in front of you is the same person as on the FICA documents provided.

Non-Face to face Scenario - Make sure that the client provides a photo of themselves holding their ID or Passport next to them and that they are the same person.

30. When the client is not physically present to complete and sign the integrated form, the ADLA may complete and sign the integrated form either physically or electronically, provided that:*

The ADLA has been authorised or mandated to do so by means of written consent

The ADLA has been authorised verbally by a 3rd person.

Section B

The following section consists of Yes or No answers. Choose the correct answer by clicking on the “Yes” OR “No” block until an “X” appears. Note: There can only be 1 correct answer

31. Can a foreigner living in SA send funds from SA to individuals in other countries?*

Yes, if the foreign national is residing legally in SA.

No, only SA citizens can send money out of SA.

32. A client transferred R3,000 at 8am in the morning and wants to transfer another R1,000 the same day. Can we allow the second transfer?*

Yes

33. A client who is in a Business Relationship with Shop2Shop Money Transfer, can they send R25,000 once-off a month?*

Yes

34. Can a foreigner living in SA send funds as a gift from SA to individuals in other countries?*

Yes, if the foreign national is residing legally in SA.

No, only SA citizens can send money as a gift out of SA.

35. A client wants to register and transfer money but don’t have an Identification document. The client knows his/her Identification number and can write it down for you. Can you register the client?*

Yes

Section C

The following section consists of True or False answers. Choose the correct answer by clicking on the “True” OR “False” block until an “X” appears. Note: There can only be 1 correct answer

36. A client wants to send funds cross border, but did provide his identification document. Can we allow the transaction?*

True

False

37. All funds that are sent Cross-Border must be reported to the SA Reserve Bank and this is the reason why we collect all the customer information to enable us to report correctly?*

True

False

38. Can a SA citizen send funds out of South Africa as a gift?*

True

False

39. A Foreign National / Migrant Worker can send funds out of South Africa as a gift?*

True

False

40. A Foreign National registered to send funds out of SA is only allowed to send funds out as Migrant Worker remittances or Foreign National contract worker remittances?*

True

False

41. Can Shop2Shop Money Transfer be used for money-laundering purposes?*

True

False

42. Money laundering is accomplished in many ways, although the three most common methods are: Obtaining the money or introducing it into the financial system in some way. Transferring or concealing the source of the money through complex or multiple transactions. Returning the money back into the financial world so that it appears legitimate. Obtaining the money or introducing it into the financial system in some way. Transferring or concealing the source of the money through complex or multiple transactions. Returning the money back into the financial world so that it appears legitimate.*

True

False

43. The “FIC” Act provides guidance in combatting Money Laundering and Terrorist Financing in SA.*

True

False

44. FIC stands for Financial Intelligence Centre and the purpose of the FIC is to provide high-quality, timely financial intelligence for use in the fight against crime and the protection of national security.*

True

False

45. Do you perceive the following to be considered suspicious behaviour by clients? Customers are reluctant to provide details of their identity Customers will not disclose the source of their funds.*

True

False

46. Terrorism financing are activities that provide financing or financial support to individual terrorists or terrorist groups.*

True

False

47. Terrorism funding funds can only be raised by illegitimate sources.*

True

False

48. A politically exposed person (PEP) generally presents a higher risk for potential involvement in bribery and corruption due to their position and influence.*

True

False

49. POPIA considers ID numbers, Nationality and Financial information as ‘Personal information’ which means we should handle and store with caution.*

True

False

50. The objective of KYC (Know Your Customer) is to enable companies to know and understand their customers better and help them manage their risks.*

True

False

51. Shop2Shop Money Transfer uses a Risk-based approach (RBA) to help combat potential threats or vulnerabilities to money laundering and terrorist financing to which our business may be exposed. We use the RBA approach with all of our clients at the beginning of the Business Relationship.*

True

False

52. Before we establish a business relationship with a client, we first need to verify the client’s identity and then only activate a client’s account.*

True

False

53. ADLA means an Authorised Dealer in foreign exchange with limited authority*

True

False

54. You are allowed to tell the client that he/she or their transaction has been reported to the FIC for any unusual or suspicious activity?*

True

False

55. A Risk-based approach refers to the probability that the customer will pay the funds he wants to transfer*

True

False

56. Shop2Shop Money Transfer is obligated to freeze the funds of known terrorist individuals who are on the UN sanction list.*

True

False

57. You will be held personally liable for fraud if you did your best to ensure there are no related money laundering going on by collecting all relevant documentation when such is discovered.*

True

False

58. After completing the KYC process and due diligence a PEP can be classified as a Low-Risk-Client*

True

False

59. Under the POPIA law, an ADLA and its’ Agents can save personal information of clients on a shared/public drive for all staff members to access. They are also allowed to share the clients detail with others.*

True

False

60. Proof of employment should not be older then 3 months. Can you make a once-off exception if a customer produces a KYC document as proof of employment that is 4 months old.*

True

False