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Structuring - ANSWERS Designing a transaction to evade triggering a reporting or record-keeping requirement. Smurfing - ANSWERS Multiple individuals making multiple cash deposits and/or buying multiple monetary instruments or bank drafts in amounts under the reporting threshold in an attempt to evade detection Microstructuring - ANSWERS Structuring done at a much smaller level Wash-trading or "offsetting" accounts - ANSWERS The entry of matching buys and sells in particular securiti...

ACAMS Study Guide Practice Questions with 100% correct answers 2024 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 - ANSWERS a In general, the three phases of money laundering are said to be: placement and A. structuring and manipulation. B. lay...

ACAMS Practice Test 1 (Book) questions and answers Which of the following is the most common method of laundering money through a legal money services business? - ANSWERS Purchasing structured money instruments In general, the 3 phases of money laundering are said to be: Placement; - ANSWERS Layering and integration Which statement is true? - ANSWERS Bust-out schemes are popular in creating large bankruptcy frauds where businesses secure increasing loans in excess of the actual valu...

ACAMS Exam Questions And Answers | Verified | Guaranteed pass 2024 C - ANSWERS The USA PATRIOT Act was passed in: A) 1970 B) 1985 C) 2001 D) 2007 D - ANSWERS The three stages of money laundering are: A) Layering, Placement, Refining B) Placement, Refining, Integration C) Refining. Integration, Layering D) Integration, Layering, Placement D - ANSWERS Which of the following would be satisfactory elements of an Anti-Money Laundering Program? I - A CAMS certified employee in the Inve...

ACAMS Exam Questions And Answers | Verified | Guaranteed Success | Define a red flag. - ANSWERS A warning signal that should bring attention to a potentially suspicious situation, transaction or activity. Define willful blindness. - ANSWERS A legal principle that operates in money laundering cases in the U.S. and is defined by courts as the "deliberate avoidance of knowledge of the facts" or purposeful indifference. Courts have held that willful blindness is the equivalent of actua...

ACAMS EXAM 4 QUESTIONS WITH 100% CORRECT ANSWERS 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 launderer can launder money by prepaying his credit card using funds that are already in the banking system, creating a credit balance on his account, a...

ACAMS Exam 3 Questions And 100% Answers 2 ways remittance services can foster ML - ANSWERS • Packages containing large cash sums and even drugs anonymously. • Another technique commonly used by money remitters and currency exchanges is for the broker to make the funds available to the criminal organization at the destination country in the local currency. 2 Ways to launder money in Real Estate - ANSWERS • By way of chain transactions in real estate to cloak the illicit source ...

ACAMS Exam 2 Questions with 100% correct Answers Which of the following is the most common method of laundering money through a legal money services business? A. Purchasing structured money settlements B. Smuggling bulk-cash C. Transferring funds through Payable Through Accounts (PTAs) D. Exchanging Columbian pesos on the black market - ANSWERS A. Purchasing structured money settlements In general, the three phases of money laundering are said to be: Placement: A. Structuring and man...

ACAMS Exam 1 Questions And Answers | Verified |best solutions Structuring - ANSWERS Designing a transaction to evade triggering a reporting or record-keeping requirement. Smurfing - ANSWERS Multiple individuals making multiple cash deposits and/or buying multiple monetary instruments or bank drafts in amounts under the reporting threshold in an attempt to evade detection Microstructuring - ANSWERS Structuring done at a much smaller level Wash-trading or "offsetting" accounts - ANSW...