1
Q
Money laundering definition
A
Money laundering can be defined differently based on location
2
Q
Money laundering is generally accepted as
A
the process of concealing or disguising the existence , source, movement, destination, or illegal application of criminally derived funds to make them appear legitimate
3
Q
criminal activities that lead to money laundering are called…
A
Predicate crimes
4
Q
Examples of Predicate crimes Include:
A
Arms sales narcotics trafficking contraband smuggling embezzlement insider trading bribery fraud schemes
5
Q
Three basic steps of Money Laundering are:
A
Placement
Layering
Integration
6
Q
Placement
A
Putting dirty money into the financial system
7
Q
layering
A
concealing the origin of the dirty money
8
Q
integration
A
using the dirty money in the legitimate economy
AML foundations
flashcards
Decks in class (6)
# Cards
