Money laundering questions and answers

This week on “money laundering”

Question 1

With regards to changes pertaining to money laundering, which of the following changes is NOT a concern to those in the battle against money laundering?

A- bit-coin and other forms of “electronic money”

B- prepaid value cards ( debit card)

C- mobile payments

D- All of the other choices are concern for law enforcement.

Correct answer – D

The use of bit- coin, and e-money , prepaid value cards and mobile payments are all concerns for law enforcement that make tracing funds more difficult

Question 2

The conversion of illegal funds that have been moved to disguise its origin, to assets which appears to be derived from legal sources, is which step in the money laundering process?

A- layering

B- placement

C- integration

D- non of the above

Correct answer – C

The integration phase is when the ” cleaned” assets are then converted back into the hands of the perpetrators in a form that will allow them to use the funds without being noticed.