ExpertEasy1 markMultiple Choice
ACCA · Question 45 · Corporate fraudulent and criminal behaviour
Money laundering is typically described as occurring in three distinct stages.
Which TWO of the following are recognized stages of the money laundering process?
Money laundering is typically described as occurring in three distinct stages.
Which TWO of the following are recognized stages of the money laundering process?
Answer options:
A.
Placement.
B.
Concealment.
C.
Layering.
D.
Extraction.
How to approach this question
Recall the three standard phases of money laundering: Placement, Layering, and Integration.
Full Answer
The three recognized stages of money laundering are: 1) Placement (introducing illicit funds into the financial system), 2) Layering (conducting complex financial transactions to camouflage the illegal source), and 3) Integration (acquiring wealth generated from the transactions as seemingly legitimate funds).
Common mistakes
Using generic terms like 'hiding' or 'concealment' instead of the specific technical terms used in anti-money laundering frameworks.
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