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Money Laundering Questions and Answers | Latest Version | 2024/2025 | Already Passed R175,62   Add to cart

Exam (elaborations)

Money Laundering Questions and Answers | Latest Version | 2024/2025 | Already Passed

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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...

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  • November 16, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Money Laundering
  • Money Laundering
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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




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