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Describe the three phases of money laundering. Correct Answer • Placement is the physical disposal of cash or other assets derived from criminal activity. • Layering is the separation of illicit proceeds from their source by layers of financial transactions intended to conceal the origin of t...
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Add to cartDescribe the three phases of money laundering. Correct Answer • Placement is the physical disposal of cash or other assets derived from criminal activity. • Layering is the separation of illicit proceeds from their source by layers of financial transactions intended to conceal the origin of t...
C Correct Answer The USA PATRIOT Act was passed in: A) 1970 B) 1985 C) 2001 D) 2007 D Correct Answer The three stages of money laundering are: A) Layering, Placement, Refining B) Placement, Refining, Integration C) Refining. Integration, Layering D) Integration, Layering, ...
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Add to cartC Correct Answer The USA PATRIOT Act was passed in: A) 1970 B) 1985 C) 2001 D) 2007 D Correct Answer The three stages of money laundering are: A) Layering, Placement, Refining B) Placement, Refining, Integration C) Refining. Integration, Layering D) Integration, Layering, ...
What are the four elements of fraud? Correct Answer 1. Material false statement 2. Knowledge that statement is false 3. Reliance on false statement 4. Financial loss What is the distinct difference between a fraud and an attempted fraud? Correct Answer Financial loss What is the process of ...
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Add to cartWhat are the four elements of fraud? Correct Answer 1. Material false statement 2. Knowledge that statement is false 3. Reliance on false statement 4. Financial loss What is the distinct difference between a fraud and an attempted fraud? Correct Answer Financial loss What is the process of ...
Which of the following is the most common method of laundering money through a legal money services business? A. Exchanging currency and remitting money B. Smuggling bulk cash C. Transferring funds through payable through accounts (PTAs) D. Exchanging Colombian pesos on the black market Correct ...
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Add to cartWhich of the following is the most common method of laundering money through a legal money services business? A. Exchanging currency and remitting money B. Smuggling bulk cash C. Transferring funds through payable through accounts (PTAs) D. Exchanging Colombian pesos on the black market Correct ...
How do drug traffickers and other criminals use the fine art industry to disguise illicit proceeds? A. They use forged or fraudulent invoicing of priceless works of art by auction houses B. They commingle legitimate and illicit proceeds by principals for payment of fine art C. They immediately rese...
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Add to cartHow do drug traffickers and other criminals use the fine art industry to disguise illicit proceeds? A. They use forged or fraudulent invoicing of priceless works of art by auction houses B. They commingle legitimate and illicit proceeds by principals for payment of fine art C. They immediately rese...
What is money laundering? Correct Answer taking CRIMINAL proceeds and disguising their illegal sources to USE the funds for LEGAL or ILLEGAL acts. Give an example of the SECOND stage of money laundering. Correct Answer Layering - Electronically moving funds between countries; moving funds between...
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Add to cartWhat is money laundering? Correct Answer taking CRIMINAL proceeds and disguising their illegal sources to USE the funds for LEGAL or ILLEGAL acts. Give an example of the SECOND stage of money laundering. Correct Answer Layering - Electronically moving funds between countries; moving funds between...
Which of the following is the most common method of laundering money through a legal money services business? Correct Answer Purchasing structured money instruments In general, the 3 phases of money laundering are said to be: Placement; Correct Answer Layering and integration Which statement i...
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Add to cartWhich of the following is the most common method of laundering money through a legal money services business? Correct Answer Purchasing structured money instruments In general, the 3 phases of money laundering are said to be: Placement; Correct Answer Layering and integration Which statement i...
Which of the following statements is true? A Credit cards are not likely to be used in the layering phase of money laundering because of restrictions in cash payments B Credit cards are effective instruments for laundering money because the transactions do not create a paper trail C A laun...
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Add to cartWhich of the following statements is true? A Credit cards are not likely to be used in the layering phase of money laundering because of restrictions in cash payments B Credit cards are effective instruments for laundering money because the transactions do not create a paper trail C A laun...
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