Legal Limits – NBC Institute

BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking

Legal limit for bank deposits without further obligations under the Money Laundering Act.

Question

Under the Money Laundering (Prohibition) Act, the maximum sum of money that an individual may deposit in a bank account without further obligation is
A. N700,000
B. N800,000
C. N900,000
D. N500,000
E. N1,000,000

Answer

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Tags: Banking Law, Legal Limits, Money laundering, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2015

BL – May 2016 – L1 – SA – Q9 – Law Relating to Banking

Identify the maximum amount allowed for cash payment without financial institution involvement.

Question

The Money Laundering (Prohibition) Act provides that no individual person shall make or accept cash payment, EXCEPT through a financial institution, of an amount of money exceeding the sum of
A. ₦1,500.00
B. ₦2,000.00
C. ₦4,000.00
D. ₦3,000.00
E. ₦5,000.00

Answer

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Tags: Financial Transactions, Legal Limits, Money laundering
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2016

BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking

Legal limit for bank deposits without further obligations under the Money Laundering Act.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, Legal Limits, Money laundering, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2015

BL – May 2016 – L1 – SA – Q9 – Law Relating to Banking

Identify the maximum amount allowed for cash payment without financial institution involvement.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Financial Transactions, Legal Limits, Money laundering
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2016

Question Tag: Legal Limits

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BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking

Legal limit for bank deposits without further obligations under the Money Laundering Act.

BL – May 2016 – L1 – SA – Q9 – Law Relating to Banking

Identify the maximum amount allowed for cash payment without financial institution involvement.

BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking

Legal limit for bank deposits without further obligations under the Money Laundering Act.

BL – May 2016 – L1 – SA – Q9 – Law Relating to Banking

Identify the maximum amount allowed for cash payment without financial institution involvement.

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BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking

Legal limit for bank deposits without further obligations under the Money Laundering Act.

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BL – May 2016 – L1 – SA – Q9 – Law Relating to Banking

Identify the maximum amount allowed for cash payment without financial institution involvement.

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BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking

Legal limit for bank deposits without further obligations under the Money Laundering Act.

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BL – May 2016 – L1 – SA – Q9 – Law Relating to Banking

Identify the maximum amount allowed for cash payment without financial institution involvement.

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