5 Feb 2026

SG AML Regime Exam Question

A registered company providing money changing services recently opened a bank account and performed a series of transactions. One of the transactions was a large transfer of money overseas. Another transaction involved the deposit of the company’s cheques into their employee’s account. There was also a large amount of funds received and immediately used as collateral for other banking facilities. Which of the following is the biggest red flag indicator for suspicious activity?

a) The large transfer of money overseas.

b) The account is used by a money changing service.

c) The company’s cheques were deposited into their employee’s account.

d) The large amount of funds received and immediately used as collateral for other banking facilities.