5 Questions
What is the first stage of money laundering according to the text?
Placement
Which of the following is an example of a placement transaction?
Blending of funds: Commingling illegitimate funds with legitimate funds
Which activity involves dividing cash into small amounts and depositing it into numerous bank accounts in an attempt to evade reporting requirements?
Breaking up amounts
What is a common method used during the placement stage to introduce illicit proceeds into the financial system?
Placing the funds into circulation through formal financial institutions, casinos, and other legitimate businesses
What is the second stage of money laundering as described in the text?
Layering
Test your knowledge of the three stages of money laundering: Placement, Layering, and Integration. Learn about how money launderers introduce illicit proceeds into the financial system, separate them from their criminal source, and finally make the 'clean' money available for use.
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