Quiz
10 general financial crime questions. Select a number from the menu bar, or select a question from the headings below. No tracking or scoring is built into the quiz. If you want to keep a record of your progress please do so separately. You can return to the quiz index by clicking 'H' in the menu bar.
The names of designated persons and entities are recorded on the Consolidated List published by the Office of Financial Sanctions Implementation (OFSI).
An asset freeze and some financial services restrictions may also apply to entities that are owned or controlled, directly or indirectly, by a designated person; even where those other entities may not be named on the Consolidated List. Instances may arise when it is prudent to assess whether a designated person has ownership or control.
Question - In which of the following scenarios is an entity generally considered to be owned or controlled (directly or indirectly) by another person ('Party A')?
You selected '1 or 2'
Guidance issued by the OFSI (Part 4.1 'Ownership and Control') identifies an entity is owned or controlled directly or indirectly by another person (i.e. Party A) in scenarios 1, 2 or 4. Although the two scenarios you selected are correct, they are not the only scenarios.
OFSI Guidance includes examples of when the affairs of an entity are conducted in accordance with a person’s wishes.
See also: Financial sanctions: guidance published by the OFSI.
To reset the question - 'Click here'
You selected '1, 2 or 3'
Guidance issued by the OFSI (Part 4.1 'Ownership and Control') identifies an entity is owned or controlled directly or indirectly by another person (i.e. Party A) in scenarios 1, 2 or 4. Although two of the scenarios you selected are correct, they are not the only scenarios.
Just because Party A is a director of a similarly named entity, this in itself is unlikely to be sufficient to evidence ownership or control. Some further research is likely to be required.
See also: Financial sanctions: guidance published by the OFSI.
To reset the question - 'Click here'
You selected '1, 2 or 4'
Guidance issued by the OFSI (Part 4.1 'Ownership and Control') identifies an entity is owned or controlled directly or indirectly by another person (i.e. Party A) in scenarios 1, 2 or 4.
Just because Party A is a director of a similarly named entity, this in itself is unlikely to be sufficient to evidence ownership or control. Some further research is likely to be required.
OFSI Guidance includes examples of when the affairs of an entity are conducted in accordance with a person’s wishes.
See also: Financial sanctions: guidance published by the OFSI.
To reset the question - 'Click here'
You selected '1, 3 or 4'
Guidance issued by the OFSI (Part 4.1 'Ownership and Control') identifies an entity is owned or controlled directly or indirectly by another person (i.e. Party A) in scenarios 1, 2 or 4. Although two of the scenarios you selected are correct, they are not the only scenarios.
OFSI Guidance includes examples of when the affairs of an entity are conducted in accordance with a person’s wishes.
To reset the question - 'Click here'
To exit the quiz and go to SYSC326 home page, click - 'Home'
