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Law Anti Money Laundering Act 2010 Test

Mustansar KhanLast Updated: September 16, 2025

Law Anti Money Laundering Act 2010 Test

Total Questions:	48
Time Allowed:	25 Minutes
Total Marks:	48
How to Attempt Test:	Please choose the right Option in MCQ-type question.
Test Helpful For:	Police Test CTD Police Test Interview Questions about Police Recruitment Tests

Law Anti Money Laundering Act 2010 Test Online MCQs

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1. Which section deals with investigation of money laundering offences?

Section 11

Section 9

Section 13

Section 7

2. Which section allows confiscation of property involved in money laundering?

Section 12

Section 8

Section 11

Section 7

3. Which section provides appeal against orders under the AML Act?

Section 23

Section 27

Section 25

Section 21

4. What is “CDD” in AML compliance?

Cash Deposit Details

Compliance Data Directive

Currency Data Documentation

Customer Due Diligence

5. Which section empowers FMU to call for additional information from reporting entities?

Section 9

Section 7A

Section 6(4)

Section 8

6. How long must reporting entities maintain records of STRs and CTRs?

Permanently

5 years

3 years

10 years

7. What is the maximum fine for failure of a reporting entity to comply with AML requirements?

10 million rupees

1 million rupees

25 million rupees

5 million rupees

8. Which body is responsible for Pakistan’s FATF compliance?

NEC (National Executive Committee)

FMU

SECP

NAB

9. Which section declares AML offences as cognizable and non-bailable?

Section 23

Section 21

Section 18

Section 19

10. What is the maximum fine for a legal person (company) involved in money laundering?

100 million rupees

50 million rupees

10 million rupees

25 million rupees

11. Are money laundering offences bailable?

Yes, with magistrate’s approval

No, they are cognizable and non-bailable

Only for first-time offenders

Yes, always

12. Which section empowers the court to appoint a receiver for attached property?

Section 10

Section 8

Section 9

Section 11

13. Which authority can freeze property suspected of money laundering for 15 days?

FIA Director

NAB

DG FMU

Interior Ministry

14. What is the maximum punishment for financing of terrorism under AML Act?

Life imprisonment

7 years

10 years imprisonment and fine

5 years

15. Which section of the Act allows appeal to High Court?

Section 19

Section 20

Section 23

Section 25

16. What is the punishment for tipping-off?

Dismissal from job only

1 year imprisonment

Up to 5 years imprisonment or 2 million rupees fine

Only fine of 500,000 rupees

17. Which authority supervises AML obligations for exchange companies?

NAB

State Bank of Pakistan

SECP

FMU

18. What is the punishment for false reporting of STR to FMU?

Up to 2 years imprisonment or fine of 500,000 rupees

1 year imprisonment

5 years imprisonment

Only fine

19. Which court has jurisdiction to try money laundering cases?

Civil Courts

Banking Courts

Sessions Courts

High Courts only

20. What is the maximum retention period for seized property?

180 days

90 days

30 days

60 days

21. Who regulates AML obligations of banks?

SECP

FMU

NAB

State Bank of Pakistan

22. Can reporting entities deal with anonymous or fictitious accounts?

Yes, for small amounts

No, strictly prohibited

Yes, with permission

Allowed for temporary business

23. Which section provides for freezing of property for 15 days by FMU?

Section 6(6)

Section 8(4)

Section 11(1)

Section 7(2)

24. What is the primary objective of the AML Act, 2010?

To control inflation

To manage stock exchanges

To regulate trade disputes

To prevent laundering of money and financing of terrorism

25. What is the minimum fine for individuals convicted of money laundering?

500,000 rupees

1 million rupees

5 million rupees

100,000 rupees

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26. What is the punishment for money laundering under the AML Act?

Minimum 1 year, extendable up to 10 years, plus fine

Only fine of 1 million rupees

6 months imprisonment

Life imprisonment

27. Who heads the Financial Monitoring Unit (FMU)?

Governor SBP

Secretary Finance

Federal Minister for Finance

Director General FMU

28. Which section deals with international cooperation for AML matters?

Section 15

Section 25

Section 21

Section 16

29. Which agency regulates AML compliance for insurance companies?

NAB

State Bank of Pakistan

FMU

SECP

30. Which type of offences are included as “predicate offences”?

Civil wrongs

Offences listed in Schedule I of the Act

Only financial crimes

Minor offences only

31. What is the punishment for failure to file STR?

Fine only

Warning letter

10 years imprisonment

Up to 5 years imprisonment or 500,000 rupees fine

32. What is the minimum imprisonment for money laundering offence?

1 year

2 years

3 years

6 months

33. Which entity is responsible for receiving Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs)?

FIA

Financial Monitoring Unit (FMU)

State Bank of Pakistan

NAB

34. Which schedule of the AML Act lists predicate offences?

Third Schedule

Second Schedule

Fourth Schedule

First Schedule

35. Money laundering offences are triable by which court?

Banking Court

Civil Court

Military Court

Sessions Court

36. Which section allows provisional attachment of property involved in money laundering?

Section 10

Section 7

Section 9

Section 8

37. Which section criminalizes tipping-off customers about STRs?

Section 34

Section 33

Section 32

Section 35

38. What is the minimum record retention period for financial institutions under AML Act?

5 years

15 years

7 years

10 years

39. Who may appoint investigating officers under the AML Act?

Supreme Court

Federal or Provincial Governments

SECP only

Parliament

40. Which section of the Act defines the “offence of money laundering”?

Section 2

Section 3

Section 4

Section 5

41. How long can property be provisionally attached initially?

180 days

1 year

90 days

30 days

42. What does “STR” stand for under the Act?

Secure Transaction Report

Suspicious Transaction Report

Standard Transaction Report

Systematic Transaction Report

43. Who is the “investigating agency” under the AML Act?

Only ANF

Only FIA

FIA, NAB, ANF, and others notified by government

Only NAB

44. Which committee oversees national AML/CFT policy?

National Executive Committee

Standing Committee on Law

Economic Coordination Committee

Cabinet Committee on Finance

45. What is the punishment for vexatious search without permission?

Dismissal from service

Up to 5 years imprisonment

Up to 2 years imprisonment or 50,000 rupees fine

Fine only

46. The Anti-Money Laundering Act, 2010 extends to:

Federal territory only

Punjab only

The whole of Pakistan

Sindh and Balochistan only

47. Which year was the Anti-Money Laundering Act enacted in Pakistan?

2012

2005

2010

2008

48. What is the function of the National Executive Committee under the AML Act?

Regulate private banks

Formulate AML/CFT policies and supervise implementation

Collect STRs and CTRs

Conduct criminal trials

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Mustansar KhanLast Updated: September 16, 2025

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Law Anti Money Laundering Act 2010 Test

Law Anti Money Laundering Act 2010 Test

Law Anti Money Laundering Act 2010 Test Online MCQs

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