ACAMs 6th Edition - Chapter 1 Exam
Questions & Answers (Grade A+)
The United Nations 2000 Convention Against Transnational
Organized Crime, also known as the "Palermo Convention", defines
money laundering as...
-The conversion or transfer of property, knowing it is derived from a
criminal offense, for the purpose of concealing or disguising its illicit
origin or of assisting any person who is involved in the commission
of the crime to evade the legal consequences of his or her actions.
-The concealment or disguise of the true nature, source, location,
disposition, movement, rights with respect to, or ownership of
property knowing that it is derived from a criminal offense.
-The acquisition, possession or use of property, knowing at the time
of its receipt that it was derived from a criminal offense or from
participation in a crime.
An important prerequisite in the definition of money laundering is
"knowledge". Shown above as "knowing that it is derived from a
criminal offense" -
correct answer ✅Palermo Convention
, ACAMs 6th Edition - Chapter 1 Exam
Questions & Answers (Grade A+)
State that the intent and knowledge required to prove the offense
of money laundering includes the concept that such a mental state
may be inferred from "objective factual circumstances". -
correct answer ✅FATF's 40 Recommendations and 4th European
Union Directive (2015)
Deliberate avoidance of knowledge of the facts or "purposeful
indifference" and courts have held that willful blindness is the
equivalent of actual knowledge of the illegal source of funds or of
the intentions of a customer in a ML transaction. -
correct answer ✅Willful Blindness
After this date, FATF expanded its mandate to cover the financing of
terrorism. -
correct answer ✅September 11, 2001
May use the same methods to move their money in ways to avoid
detection. -
correct answer ✅Terrorists and Money Launderers
Questions & Answers (Grade A+)
The United Nations 2000 Convention Against Transnational
Organized Crime, also known as the "Palermo Convention", defines
money laundering as...
-The conversion or transfer of property, knowing it is derived from a
criminal offense, for the purpose of concealing or disguising its illicit
origin or of assisting any person who is involved in the commission
of the crime to evade the legal consequences of his or her actions.
-The concealment or disguise of the true nature, source, location,
disposition, movement, rights with respect to, or ownership of
property knowing that it is derived from a criminal offense.
-The acquisition, possession or use of property, knowing at the time
of its receipt that it was derived from a criminal offense or from
participation in a crime.
An important prerequisite in the definition of money laundering is
"knowledge". Shown above as "knowing that it is derived from a
criminal offense" -
correct answer ✅Palermo Convention
, ACAMs 6th Edition - Chapter 1 Exam
Questions & Answers (Grade A+)
State that the intent and knowledge required to prove the offense
of money laundering includes the concept that such a mental state
may be inferred from "objective factual circumstances". -
correct answer ✅FATF's 40 Recommendations and 4th European
Union Directive (2015)
Deliberate avoidance of knowledge of the facts or "purposeful
indifference" and courts have held that willful blindness is the
equivalent of actual knowledge of the illegal source of funds or of
the intentions of a customer in a ML transaction. -
correct answer ✅Willful Blindness
After this date, FATF expanded its mandate to cover the financing of
terrorism. -
correct answer ✅September 11, 2001
May use the same methods to move their money in ways to avoid
detection. -
correct answer ✅Terrorists and Money Launderers
