Question 1

FinServe, a cross-border financial institution, is training its staff on anti-money laundering (AML) regulations. A trainer describes a scenario where illicit cash is moved through a series of complex international wire transfers between shell companies to obscure the audit trail and distance the funds from their illegal source.

Which stage of the money laundering process does this describe?

Accepted Answer

Recall the three stages of money laundering: Placement (in), Layering (spin), Integration (out). Complex transfers to hide the source is Layering.

Question 2

What mistakes do candidates make on this ACCA question?

Accepted Answer

Confusing Layering with Placement. Placement is just getting the cash into a bank; Layering is the complex movement afterward.

How to approach this question

Full Answer

Common mistakes

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