Tax Evasion and Money Laundering Quiz

The process of disguising the illegal origins and ownership of criminal property to make it appear to have come from a legitimate source.

Criminally derived property can be laundered through an infinite number of methods, involving all financial services and products. No financial sector product or service is too simple or too complex to be used for a money laundering scheme.

The process of moving funds generated from crime into the financial system, either directly or indirectly.

The process of moving funds through the financial system to disguise their origin, often involving multiple transactions.

The process of withdrawing the laundered funds from the financial system and using them for legitimate purposes, making them appear as if they were earned legally.

The funding of terrorist activities, including recruitment, training, and operations.

The process of acquiring, providing, or managing funds or other resources to support the development or production of weapons of mass destruction.

Measures imposed by governments or international organizations to restrict certain activities or individuals, typically used to address threats to international peace and security.

Prevent tax evasion and promote fairness in global tax systems.

Sharing tax information between countries to prevent tax evasion and ensure everyone pays their fair share.

Groups of countries working together to combat tax fraud and share intelligence and expertise.

Helping developing countries implement strong tax systems to manage their own finances.

Educating individuals and businesses about their tax obligations and how to comply.

Ensuring financial institutions have strong controls to prevent money laundering and related tax crimes.

Making tax crimes illegal through laws and penalties to deter offenders.

Developing strategic plans to address and combat tax crimes at national and international levels.

A type of VAT fraud scheme where goods are sold across borders with no VAT paid, but the final consumer pays VAT, allowing criminals to pocket the VAT.

The process of concealing the illegal origins of money, making it appear legitimate.

Providing funds or resources to support terrorist activities, such as recruitment or training.

Countries with weak or ineffective anti-money laundering controls are more attractive to criminals.

Criminals use the complexity of the global financial system to move money across borders quickly, making it difficult to track.

Moving funds through multiple transactions to disguise their origin.

Criminals move laundered funds back into the legitimate financial system.

The European Public Prosecutor's Office (EPPO) investigated a VAT fraud case involving multiple countries.

A group of Arab states in the Middle East and North Africa that can impose sanctions on countries to alter their behavior.

The Arab League can impose economic, trade, travel, and other sanctions.

The Arab League can suspend members for violating international laws or norms.

Syria was suspended from the Arab League in 2011 due to government crackdowns on protests and the resulting civil war.

The Arab League reinstates Syria in 2023.

The European Union (EU) can impose sanctions on countries or individuals to alter their behavior.

The EU can impose economic, trade, travel, and other sanctions.

The EU can impose sanctions on companies in third countries, even outside of the EU.

These sanctions target specific individuals or entities linked to prohibited activities, such as freezing their assets or blocking their funds.

These exemptions allow for humanitarian aid and other essential activities to continue even during sanctions.

These sanctions aim to impact only specific areas of a country's activities, such as the diamond trade, to prevent illicit financing of conflicts.

These sanctions involve actions like expelling diplomats, severing diplomatic ties, or suspending official visits to express disapproval or to pressure a country.

These sanctions restrict trade with a country, either for specific goods or services, or for all items, aiming to impact their economy or military capabilities.

These sanctions include actions such as freezing funds, prohibiting financial transactions, or restricting export credits to limit a country's financial resources.

These sanctions restrict the movement of individuals by denying entry visas, imposing travel restrictions, or banning citizens from certain countries.

This UN resolution aims to prevent the spread of weapons of mass destruction by non-state actors.

The UN Convention against Trafficking in Narcotics and Psychotropic Substances (Vienna Convention) aims to combat drug trafficking and related crimes, including money laundering.

The UN Convention against Transnational Organized Crime (Palermo Convention) seeks to prevent, suppress, and prosecute transnational organized crime, encompassing money laundering and terrorist financing.

The UN Convention against Corruption (UNCAC) aims to prevent, criminalize, and promote international cooperation in combating corruption, which is linked to money laundering and terrorist financing.

The UN Convention for the Suppression of the Financing of Terrorism aims to prevent and criminalize terrorist financing, including the provision of funds and other resources for terrorist activities.

The UN Security Council Resolutions (UNSCRs) are legally binding decisions made by the UN Security Council to address threats to international peace and security, often related to terrorism and its financing.

The Global Programme on Money Laundering (GPML) is a UN initiative developing model laws to help countries establish robust anti-money laundering and combating the financing of terrorism (AML/CFT) frameworks.

UNSCRs and international conventions are critical tools in the fight against money laundering and terrorist financing, shaping international responses to global conflicts and crises.

Countries need strong AML/CFT laws and frameworks to prevent money laundering and terrorist financing. These laws often follow UN conventions and resolutions.