Money Laundering

Money Laundering

Assessment

Flashcard

Business

Professional Development

Medium

Created by

Mustafa Buyukay

Used 1+ times

FREE Resource

Student preview

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12 questions

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1.

FLASHCARD QUESTION

Front

What is the process of making illegally-gained money appear legal called?

Back

Money laundering.

2.

FLASHCARD QUESTION

Front

Terrorist Financing

Back

  •  Funding provided to terrorist organizations, often through illegal means.

3.

FLASHCARD QUESTION

Front

Transaction Monitoring

Back

  • The process of reviewing transactions to detect unusual or suspicious activity.

4.

FLASHCARD QUESTION

Front

Wire Transfer

Back

  • Electronic transfer of funds from one bank account to another.

5.

FLASHCARD QUESTION

Front

Layering;

Back

  • Layering is the second stage of the money laundering stages in which criminals engage in a series of transactions to create confusion and distance the funds from their criminal origin

6.

FLASHCARD QUESTION

Front

Audit Trail

Back

Record of transactions, often used to trace financial activity.

7.

FLASHCARD QUESTION

Front

Red Flags

Back

  • Warning signs of potential financial crime.

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