Homework for Exam 3 FINC 4700 || with 100% Error-free Solutions.
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FINC 4700 || with 100% Error-f
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FINC 4700 || With 100% Error-f
Frequent cash deposits below the reportable threshold in a bank account over consecutive days could be a case of _________________.
A). Drug trafficking
B). Hiding
C). Layering
D). Structuring
E). Coincidence correct answers Structuring
The three stages of money laundering are _______...
Homework for Exam 3 FINC 4700 || with 100% Error-free
Solutions.
Frequent cash deposits below the reportable threshold in a bank account over consecutive days
could be a case of _________________.
The three stages of money laundering are _______________, __________________,
_______________.
A). Placement, layering, and reengineering
B). Placement, layering, and integration
C). Raising, moving, and using
D). Integration, layering, and utilizing
E). Raising, moving, and acquiring correct answers Placement, layering, and integration
The stage at which proceeds of crime are finally included in the legal economy is referred to as
________________.
Politically Exposed Person (PEPs) from foreign countries are considered as ______________
risk for money laundering purposes.
A). Low
B). Medium
C). Moderate
D). High
E). No correct answers High
Which of the following customers would be considered by a financial institution to have the least
money laundering risk?
A). A shell company
B). A blind trust
C). An anonymous customer
D). A company that trades on the stock exchange
, E). Politically Exposed persons correct answers A company that trades on the stock exchange
Which of the following are consequences of money laundering?
I. Can cause predictable changes in money demand
II. Can pose risk to the soundness of financial institutions
III. Can contaminate legal financial transactions
IV. Can increase the volatility of exchange rates due to unanticipated cross-border transfers
A). I, II and III only
B). II, III and IV only
C). I, III and IV only
D). I, II and IV only
E). I, II, III and IV correct answers B). II, III and IV only
Which of the following is not a legal requirement of an effective AML/CFT Compliance
Program?
A). Effective internal controls
B). Independent testing
C). Risk-based KYC
D). Designated CCO
E). AML/CFT computer system with artificial intelligence correct answers AML/CFT computer
system with artificial intelligence
A Forfeiture Order requires the financial institution to ____________________.
A). Take possession of the proceeds of crime from money launders, financiers of terrorism and
prolifers.
B). Refund the proceeds of crime to money launders, financiers of terrorism and prolifers.
C). Approve loans to money launders, financiers of terrorism and prolifers.
D). Accept deposits and investments from money launders, financiers of terrorism and prolifers.
E). Give the proceeds of crime and any related funds that it holds on behalf of money launderers,
financiers of terrorism or prolifers, to the Government. correct answers Give the proceeds of
crime and any related funds that it holds on behalf of money launderers, financiers of terrorism
or prolifers, to the Government.
Which of the following statement regarding proliferation is correct?
A). It can be financed from both legal and illegal sources.
B). It is financed from legal sources only.
C). It is financed from illegal sources only.
D). It is financed by the Government only.
E). It is financed by unlisted companies. correct answers It can be financed from both legal and
illegal sources
Money laundering originates from _________________________.
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