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Business English Exercises
 

Anti-Fraud Regulations

Answers to test questions and links to explanations

Home > Teaching Business English > Business English Lessons, Advanced Level # 393
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anti-fraud regulations answer 1
Treasury departments and banks are facing increasing regulatory requirements to minimise financial crime, but how can they balance compliance with the needs of the business and what tools are at their disposal?

Correct answer: (a) at

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anti-fraud regulations answer 2
Methods of payment and banking are becoming more sophisticated, as seen in the latest automation, electronic peer-to-peer payment networks and methods of identity authentification, among others.

Correct answer: (b) sophisticated

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anti-fraud regulations answer 3
This is a world that is trying to combine the speed of product delivery with security enhancements, so when the regulator imposes tougher standards in the area of financial crime, it is no wonder that some corporates and banks can feel somewhat overwhelmed.

Correct answer: (d) overwhelmed

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anti-fraud regulations answer 4
One of the most basic preventative measures for all organisations is to acknowledge the fact that they are at risk from financial crime — that applies as much to a small local company as it does for a multi-billion dollar multinational, says Ben Poole of gtnews.

Correct answer: (c) preventative

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anti-fraud regulations answer 5
The risk can sometimes be greater for small and medium enterprises, as they are more likely to operate on very tight margins and will not have a reserve of funds to fall back on if they are affected by fraud.

Correct answer: (a) fall

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anti-fraud regulations answer 6
Smaller companies don't often have a qualified IT administrator, which can leave their network open to attack from malevolent outside influences.

Correct answer: (d) malevolent

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anti-fraud regulations answer 7
As Barry Schofield notes: "Companies produce newsletters, policy-meeting minutes and so on, filled with project data, details about people, company status updates and other information; although information on a computer can be extremely important, the same piece of information written on a napkin is just as valuable."

Correct answer: (b) napkin

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anti-fraud regulations answer 8
As well as taking control of financial crime issues, companies also face a whole slew of government compliance issues and regulations.

Correct answer: (a) slew

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anti-fraud regulations answer 9
As new and revised regulations are implemented, it is important that organisations of all sizes keep up to date with what is required of them; if they do not, they can expect to be penalised by the regulator, as well as possibly leave themselves open to fraud.

Correct answer: (b) leave

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anti-fraud regulations answer 10
Stung into action by global events such as 9/11, Enron, the dot-com crash and even the current credit crunch, regulators around the world have created a vast amount of legislation that banks and corporates must abide by or face the consequences.

Correct answer: (c) Stung

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