Crowe Training CAMS1

Why do people launder money? ( Choose 3)

• To hide the link between illicit money and the crime

• to make profit

• to hide the link between the illicit money and the criminal

• to legalize illicit money

• to avoid confiscation of illicit money

A criminal robs a diamond ring and sells it to another person. He deposits the cash in a Bank by structuring. Which statement is true?

• The criminal can be punished for one crime only

• Criminal can be punished for robbery and money laundering; two crimes

• Criminal can be punished for the higher punishment

What are the three stages of money laundering?

• Layering, Placement, Integration

• Integration, layering, Placement

• Placement, Integration, Layering

• Placement, Layering, integration

Which of the following is layering?

• Depositing illicit money in a bank

• Purchasing a managers check for cash

• Purchasing a manager's check with illicit money in a bank account

• Buying a jewelry with illicit cash

Which are placement transactions? ( Choose three)

• Smuggling illicit money across the border

• sending a wire transfer with a check

• exchanging high denomination notes for small denomination notes

• Repaying a loan with illicit cash

• Purchasing foreign exchange with money deposited in an account

Which of the following is layering?

• Commingling illicit cash in legitimate businesses

• Purchase of real estate with illicit cash

• Prepaying a credit card with money deposited in an account

• Purchasing shares from a securities broker with illicit cash

At which stage are high value assets purchased on a long-term basis?

• Placement

• Layering

• Structuring

• Integration

A financial institution allowed a money transfer , although there were "indicators" that it was for terrorist financing. Later the financial institution pleaded that it did not know. This is called..........

• Predicate offense

• Ignorance

• Willful Blindness

• Alibi

Willful blindness can be inferred by law enforcement agencies? How?

• Guess work

• From red flags

• Only from confession by criminal

• Cannot be inferred