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AML-1

Authored by Manmeet Mehta

Professional Development

Professional Development

Used 3+ times

AML-1
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15 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the initial stage of money laundering?

Integration

Layering

Placement

Extraction

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which stage of money laundering involves reintegrating the funds back into the economy as legitimate?

Integration
Consolidation
Transformation
Realization

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the primary purpose of money laundering?

To avoid paying taxes
To convert illegal money into legitimate assets
To transfer money internationally
To invest in foreign businesses

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the main purpose of Anti-Money Laundering laws (AML)?

To increase bank profits
To monitor customers' transactions and report suspicious activities
To reduce the interest rates on loans
To promote foreign investments

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is a challenge in combating money laundering?

Stable economic conditions
Decreasing number of financial institutions
Globalization and advanced technology
Simplified international laws

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which event significantly expanded the scope of AML regulations to include combating terrorism financing?

The global financial crisis of 2008
The signing of the Basel Accords
The terrorist attacks on September 11, 2001
The inception of the European Union

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which method is commonly used in the layering stage of money laundering?

Purchasing luxury items
Smurfing
Gambling
Investing in shell companies

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