The action of moving money which has been earned illegally through banks and other businesses, to make it seem to have been earned legally

The abundant amount of money needed to spend

A company that collects financial information about consumers and sells the information to financial organizations who lend money

A formal agreement or promise between two or more people

To fail to do something, such as pay a debt, that you legally have to do

The process by which cheques and other payments are exchanged between customers of different banks

___ includes all activities involved in the transformation of savings into investment

Underwriting of shares by a financial intermediary is a kind of ___ activity

Which of the following are functions of financial services?

'Today, most payments are executed via electronic transfers. This trend affects every walk of life, from individual consumers paying at a shop via direct debit to an importer transferring money to an exporter's account via a cross-border credit transfer. Today's payment products involve customized solutions designed to help control the timing and conditions of payments. To speed up international payments, the new clearing system of the Euro system Central Banks allows cross-border transactions to be processed in real time.

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Q: The trend of payment through electronic transfer has little effect on human life

By centralizing negative and positive balances into a single account position on a daily basis, overall liquidity can be improved, creating opportunities for the short-term investment of any surplus funds. Rapid access to payment information can be accessed through channels such as SWIFT, a system used for secure exchange of data. Banks also need information to prevent money laundering and fraud.

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Q: Liquidity can be increased by daily consolidating both positive and negative balances into a single account position.