16 Questions
Why is the construction industry susceptible to money laundering?
Large sums of money involved
Why are cash payments common in the construction industry?
Difficulty using the banking system in some countries
How can money launderers hide illicit funds in infrastructure projects?
Through false billing and over-billing
What is a key reason why infrastructure projects carry an increased risk of corruption?
Involvement of various parties and large cash flows
Why are trusts often used by money launderers?
Ability to ensure privacy and anonymity
How do infrastructure projects affect real estate values?
They can increase real estate values in the area
What major data breaches revealed information about tax evasion and corruption?
The Panama and Paradise Papers
Why are large infrastructure projects more susceptible to corruption?
Multiple parties involved creating opportunities for bribery
What characteristic of the trust industry makes it a sensitive sector for money laundering?
Ability to hide illicit financial flows through complex legal structures
What risk do international infrastructure projects pose in terms of financial monitoring?
Difficulty for law enforcement agencies due to cross-border assets and wealth
Which of the following factors makes the shipbuilding industry susceptible to money laundering?
All of the above
How can money launderers exploit the shipbuilding industry's complexity?
By using offshore companies and intermediaries to obscure the origin of funds
Which of the following statements is NOT mentioned in the text as a factor contributing to money laundering in the shipbuilding industry?
The industry is highly regulated, making it difficult for money launderers to operate
What role can corruption play in facilitating money laundering in the shipbuilding industry?
It can help money launderers bring illicit funds into the industry and facilitate transactions
Based on the information provided in the text, which of the following steps could potentially help mitigate money laundering risks in the shipbuilding industry?
Implementing stricter regulations and oversight on financial transactions
What is a potential consequence of the international involvement in the shipbuilding industry?
It makes it more difficult to track financial flows and transactions across jurisdictions
Learn about the susceptibility of the shipbuilding industry to money laundering due to the large financial investments involved and the complexity of operations. Discover how funds from investments and grants can be at risk of disappearing into corrupt individuals' pockets.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
