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Which of the following is the most common method of laundering money through a legal money services business? A. Exchanging currency and remitting money B. Smuggling bulk cash C. Transferring funds through payable through accounts (PTAs) D. Exchanging Colombian pesos on the black market - ANSWERS a In general, the three phases of money laundering are said to be: placement and A. structuring and manipulation. B. layering and integration. C. layering and smurfing. D. integration and inf...

Which of the following is the most common method of laundering money through a legal money services business? - ANSWERS Purchasing structured money instruments In general, the 3 phases of money laundering are said to be: Placement; - ANSWERS Layering and integration Which statement is true? - ANSWERS Bust-out schemes are popular in creating large bankruptcy frauds where businesses secure increasing loans in excess of the actual value of the company or property and then run with the mon...

Account Monitoring Order - ANSWERS In the United Kingdom and several other countries, an order from a government authority requiring a financial institution to provide transaction information on a suspect account for a specified time period. Affidavit - ANSWERS A written statement given under oath before an officer of the court, notary public, or other authorized person. It is commonly used as the factual basis for an application for a search, arrest or seizure warrant. Alternative Rem...

C - ANSWERS The USA PATRIOT Act was passed in: A) 1970 B) 1985 C) 2001 D) 2007 D - ANSWERS The three stages of money laundering are: A) Layering, Placement, Refining B) Placement, Refining, Integration C) Refining. Integration, Layering D) Integration, Layering, Placement D - ANSWERS Which of the following would be satisfactory elements of an Anti-Money Laundering Program? I - A CAMS certified employee in the Investigations Unit writes up a few policies and procedures and posts th...

Define a red flag. - ANSWERS A warning signal that should bring attention to a potentially suspicious situation, transaction or activity. Define willful blindness. - ANSWERS A legal principle that operates in money laundering cases in the U.S. and is defined by courts as the "deliberate avoidance of knowledge of the facts" or purposeful indifference. Courts have held that willful blindness is the equivalent of actual knowledge of the illegal source of funds or the intentions of a cu...

Which of the following statements is true? A Credit cards are not likely to be used in the layering phase of money laundering because of restrictions in cash payments B Credit cards are effective instruments for laundering money because the transactions do not create a paper trail C A launderer can launder money by prepaying his credit card using funds that are already in the banking system, creating a credit balance on his account, and requesting a credit refund D A launderer can u...

2 ways remittance services can foster ML - ANSWERS • Packages containing large cash sums and even drugs anonymously. • Another technique commonly used by money remitters and currency exchanges is for the broker to make the funds available to the criminal organization at the destination country in the local currency. 2 Ways to launder money in Real Estate - ANSWERS • By way of chain transactions in real estate to cloak the illicit source of funds (the layering phase), • By inve...

Which of the following is the most common method of laundering money through a legal money services business? A. Purchasing structured money settlements B. Smuggling bulk-cash C. Transferring funds through Payable Through Accounts (PTAs) D. Exchanging Columbian pesos on the black market - ANSWERS A. Purchasing structured money settlements In general, the three phases of money laundering are said to be: Placement: A. Structuring and manipulation B. Layering and integration C. Layerin...

Structuring - ANSWERS Designing a transaction to evade triggering a reporting or record-keeping requirement. Smurfing - ANSWERS Multiple individuals making multiple cash deposits and/or buying multiple monetary instruments or bank drafts in amounts under the reporting threshold in an attempt to evade detection Microstructuring - ANSWERS Structuring done at a much smaller level Wash-trading or "offsetting" accounts - ANSWERS The entry of matching buys and sells in particular securiti...

Erythropoetin - CORRECT ANSWER 90 % renal, 10% hepatic, need supplementation when GFR is less than 49 Reticulocytes - CORRECT ANSWER In health, make up 1-2 % of total RBCs, increased in response to anema. Absence of reticulocytosis or presence of reticulocytopenia shows inadequate bone marrow response. Hemoglobin - CORRECT ANSWER normal is 12 for females and 15 for males. Ratio to hematocrit is 1:3 MCV - CORRECT ANSWER determines red blood cell size - normal is 80-96 MCH - CORRECT AN...