Which first step should a VASP take upon detecting repeated transactions to a high-risk wallet?

• A.Immediately freeze the account.
• B.Conduct internal investigation and enhanced due diligence.
• C.Publicly disclose the wallet.
• D.Notify all customers.

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Which of the following are functions of cryptoasset mining? (Select Two.)

• A.Generating new cryptoassets
• B.Ensuring the security of the network
• C.Optimizing and improving the functionality of the network
• D.Validating transactions on the blockchain

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Under FATF guidance, "unhosted wallets" are:

• A.Wallets managed by regulated exchanges.
• B.Wallets where users control private keys directly.
• C.Custodial wallets held by third parties.
• D.Wallets with multi-sig security.

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Under DIFC AML regulations, enhanced due diligence (EDD) is mandatory when:

• A.A customer is a domestic bank.
• B.The customer is from a high-risk jurisdiction.
• C.The transaction is above USD 1,000.
• D.The customer is a retail investor.

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Which is the first action a virtual asset service provider (VASP) should take when it finds out that its customers are engaging in virtual asset (VA) transfers related to unhosted wallets and peer-to-peer (P2P) transactions?

• A.Allow VA transfers related P2P or unhosted wallets below 1,000 USD or the equivalent amount in local currency, or per defined thresholds in local regulations.
• B.Freeze accounts with records of transactions related to P2P transactions or unhosted wallets.
• C.Collect and assess the data on transactions related to P2P or unhosted wallets to determine if it is within its risk appetite.
• D.Enhance existing risk-based control framework to account for specific risks posed by transactions related to P2P or unhosted wallets.

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