CITP EXAM 2 (Investigative Information Sources and
Financial Analysis) questions with verified answers
Define Additional Financial Institution in the funds transfer process: Ans✓✓✓-
Depending on the transactions, there may be other financial institutions needed
to complete the wire.
Define Administrative Asset Forfeiture: Ans✓✓✓-Process used by the United
States without judicial involvement. Can be used to seize and forfeit the
following: personal property valued at $500,000 or less, including cars, guns, and
boats.
Define Asset Forfeiture: Ans✓✓✓-Asset forfeiture is the taking of property by the
government without compensation, because it was used in manner contrary to
law.
Define Beneficiary in the funds transfer process: Ans✓✓✓-The ultimate party to
receive the funds.
Define Civil Asset Forfeiture: Ans✓✓✓-Civil forfeiture is an "in rem' (against the
property) action brought in court against the property. No criminal charge against
the owner is necessary.
Define Correspondent Accounts between banks: Ans✓✓✓-Financial institutions
maintain accounts at other financial institutions take advantage of services and
products available through other financial institutions' jurisdictions. Holding the
account is referred to as a Correspondent Account.
, Define Criminal Asset Forfeiture: Ans✓✓✓-Action brought as part of the criminal
prosecution of a defendant. Actions requires the government to indict (charge).
Property was used or derived from the crime.
Define Originator in the funds transfer process: Ans✓✓✓-The initiator of the
funds transfer. This could be an individual or business entity.
Define Proceeds of Crime: Ans✓✓✓-Proceeds are the "fruits" of a crime.
Forfeiture under a proceeds theory forfeits property which is directly or indirectly
traceable to the illegal activity.
Define the money laundering Integration process: Ans✓✓✓-The process of
integrating illegally obtain funds in order to appear legitimate.
Define the money laundering Layering process: Ans✓✓✓-The process of moving
funds through various financial institutions and countries using multiple entities in
order to make the tracing of the flow of the funds more difficult for the
investigator.
Define the money laundering Placement process: Ans✓✓✓-The process pf
placing illegally obtained funds into the normal financial system.
Define Title 18 USC 1956: Ans✓✓✓-Knowingly conduct/attempt to conduct
financial transaction with proceeds of SUA with purpose or INTENT to:
Promote SUA
Conceal or disguise nature of proceeds
Avoid CTR
Evade taxes
Financial Analysis) questions with verified answers
Define Additional Financial Institution in the funds transfer process: Ans✓✓✓-
Depending on the transactions, there may be other financial institutions needed
to complete the wire.
Define Administrative Asset Forfeiture: Ans✓✓✓-Process used by the United
States without judicial involvement. Can be used to seize and forfeit the
following: personal property valued at $500,000 or less, including cars, guns, and
boats.
Define Asset Forfeiture: Ans✓✓✓-Asset forfeiture is the taking of property by the
government without compensation, because it was used in manner contrary to
law.
Define Beneficiary in the funds transfer process: Ans✓✓✓-The ultimate party to
receive the funds.
Define Civil Asset Forfeiture: Ans✓✓✓-Civil forfeiture is an "in rem' (against the
property) action brought in court against the property. No criminal charge against
the owner is necessary.
Define Correspondent Accounts between banks: Ans✓✓✓-Financial institutions
maintain accounts at other financial institutions take advantage of services and
products available through other financial institutions' jurisdictions. Holding the
account is referred to as a Correspondent Account.
, Define Criminal Asset Forfeiture: Ans✓✓✓-Action brought as part of the criminal
prosecution of a defendant. Actions requires the government to indict (charge).
Property was used or derived from the crime.
Define Originator in the funds transfer process: Ans✓✓✓-The initiator of the
funds transfer. This could be an individual or business entity.
Define Proceeds of Crime: Ans✓✓✓-Proceeds are the "fruits" of a crime.
Forfeiture under a proceeds theory forfeits property which is directly or indirectly
traceable to the illegal activity.
Define the money laundering Integration process: Ans✓✓✓-The process of
integrating illegally obtain funds in order to appear legitimate.
Define the money laundering Layering process: Ans✓✓✓-The process of moving
funds through various financial institutions and countries using multiple entities in
order to make the tracing of the flow of the funds more difficult for the
investigator.
Define the money laundering Placement process: Ans✓✓✓-The process pf
placing illegally obtained funds into the normal financial system.
Define Title 18 USC 1956: Ans✓✓✓-Knowingly conduct/attempt to conduct
financial transaction with proceeds of SUA with purpose or INTENT to:
Promote SUA
Conceal or disguise nature of proceeds
Avoid CTR
Evade taxes
