Question 1

Section A

A criminal organization attempts to legitimize cash obtained from illegal drug sales by taking the physical cash to "Grand Casino", buying casino chips, playing a few games, and then cashing out the remaining chips for a cheque from the casino.

Which stage of the money laundering process does the initial purchase of casino chips with illicit cash represent?

Accepted Answer

Identify the first step where physical dirty money enters a legitimate institution. This is Placement.

Question 2

What mistakes do candidates make on this ACCA question?

Accepted Answer

Confusing Placement with Layering.

How to approach this question

Full Answer

Common mistakes

Practice the full ACCA BT — Business & Technology Practice Exam 3

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