Anti Money laundering Quiz Exam Questions And Answers

Anti Money laundering Quiz Exam Questions And Answers What are the 4 elements of fraud? - ANS 1 matter false statement 2 know statement is false 3 rely on false statement 4 financial loss What is the distinct difference between a fraud and an attempted fraud? - ANS loss of money ________ _____________ is the process of making illegally obtained proceeds appear legal. - ANS Money Laundering What two financial statements are usually provided by a business to a financial institution when trying to secure a business loan? - ANS balance sheet and income statement ________ _________ is a financial statement that summarizes a company's assets, liabilities (what you own and what you owe) plus the net worth at a specific point in time. - ANS balance sheet is a financial statement that reports a company's revenue and expenses and profit/loss over a specific period of time. - ANS income staement is a division of the United States Treasury Department whose goal is to prevent and punish criminals and criminal networks that participate in money laundering. - ANS Finacel crime enforcement network is a report that U.S. financial institutions are required to file for each deposit, withdrawal or exchange of currency in excess of $1