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Questions and Answers
- Which of the following is not a step in the money laundering process?
- Which of the following is not a step in the money laundering process?
- Placement
- Layering
- Insertion (correct)
- Integration
Which of the following transactions done in a single day would not cause a firm to file a Currency Transaction Report (CTR)?
Which of the following transactions done in a single day would not cause a firm to file a Currency Transaction Report (CTR)?
- Deposits of a series of four checks of $3,000 each (correct)
- Twenty-two deposits of $500 cash
- Four deposits of $3,000 cash and an outbound wired funds transaction for $10,000
- A withdrawal of $12,000 from an account, followed by a deposit of $11,000 cash into a third-party account
The Office of Foreign Assets Control is a division of
The Office of Foreign Assets Control is a division of
- the State Department
- the Justice Department
- the Treasury Department (correct)
- the Federal Reserve Bank
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