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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 a ...

Money Laundering involves taking criminal proceeds and disguising their illegal sources in order to use the funds to perform legal or illegal activiites. Formed in 1989 Financial Action Task Force (FATF) Financial Action Task Force (FATF) is an inter-government body comprising the g...

Which of the following is the most common method of laundering money through a legal money services business? Purchasing structured money instruments In general, the 3 phases of money laundering are said to be: Placement; Layering and integration Which statement is true? Bust-out sc...

FATF objectives are to set standards and promote effective implementation of _________, ____________, and ___________ for combatting ML, TF and other related threats. legal, regulatory and operational measures Starting with its own members, FATF: Monitors countries' progress in implementin...

Pros of Risk Based Approach -Flexible: as ML/TF risk vary across jurisdictions, customers, products and delivery channels, and over time -Effective: As companies are better equipped than legislators to effectively assess and mitigate the particular ML/TF risks they face. -Proportionate: A risk ba...