Fundamentals of Money Laundering and Terrorist Financing prevent

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What is Money Laundering?

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Committed by any person who, knowing that any monetary instrument or property represents, involves, or relates to the proceeds of unlawful activity.

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One of the common method of Money Laundering is: Gambling in casinos

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Gambling in casinos

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Integration is supplying apparent illegitimacy to illicit wealth through the reentry of the funds into the economy.

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False

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An act to strengthening the Anti-Money Laundering Law

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R.A 11521

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Terrorist Financing is:

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Committed by any person who organizes or direct others to commit financing of terrorism.

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The form and quality of CTR and STR report shall be:

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Complete, Accurate and Timely

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Under Breach of Confidentiality, covered persons and their officers and employees are prohibited from: Talking about news, Discussing of salary, Fact that a covered or suspicious transaction report has been reported., The reporting of Covered Transaction Report.

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Fact that a covered or suspicious transaction report has been reported.

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The following are the elements of Money Laundering, except; Unlawful Activity, Dirty Money, Circumstances Related to Money Laundering, Criminal Mind, Knowledge

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Criminal Mind

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One of the duties of a covered persons in case of Freeze Order is:

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Immediately Freeze the account

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Politically-Exposed Persons (PEPs) are those:

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Entrusted with prominent public position.