Money Laundering Questions and Answers | Latest Version | 2024/2025 | Already Passed
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Module
Money Laundering
Institution
Money Laundering
Money Laundering Questions and
Answers | Latest Version | 2024/2025 |
Already Passed
What is considered the first stage of money laundering?
Placement of illegal funds into the financial system
What does the layering stage of money laundering involve?
Moving money through various accounts t...
Money Laundering Questions and
Answers | Latest Version | 2024/2025 |
Already Passed
What is considered the first stage of money laundering?
✔✔ Placement of illegal funds into the financial system
What does the layering stage of money laundering involve?
✔✔ Moving money through various accounts to obscure its source
Why is the integration stage critical in money laundering?
✔✔ It makes illicit money appear legitimate
How does money laundering impact the economy?
✔✔ It can destabilize financial institutions and distort markets
What is the purpose of Anti-Money Laundering (AML) regulations?
✔✔ To detect and prevent illegal financial activities
1
, Why are banks required to report suspicious activities?
✔✔ To help prevent money laundering and financial crimes
What is a "suspicious activity report" (SAR)?
✔✔ A report filed when a financial institution detects unusual transactions
What type of transactions might trigger suspicion of money laundering?
✔✔ Large cash deposits without a clear source
Why is it essential for businesses to implement AML policies?
✔✔ To comply with legal requirements and reduce the risk of being used for laundering
How does the use of shell companies facilitate money laundering?
✔✔ They can hide the true ownership of assets
What is the role of "Know Your Customer" (KYC) in preventing money laundering?
✔✔ To verify customer identities and detect potential risks
2
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