Trade
These are often near ports of entry in developing countries, with typically inadqueate AML safeguards and minimal oversight
What are Free Trade Zones?
Banks and Facebook's Diem are examples of this type of virtual currency.
What is centralized?
Not like the elf that comes around during the holidays' home, these types of companies can stay around all year long.
What are shelf companies?
This type of financing is typically used to hide who paid for things, not necessarily because the funds are illegal.
What is Terrorist Financing?
These are the three phases of wildlife trafficking, where lowest profits are seen at the beginning and highest at the end
What is sourcing, transit, and destination?
When I want to transfer value to a buyer during invoicing, this is the typical process I would follow.
What is underinvoicing?
Open or closed loops types of this payment method provide the same benefits to money launderers as cash.
What are prepaid cards?
These private fiduciary arrangements allow a grantor or settlor to place assets for future distribution to beneficiaries.
What are trusts?
Chiti banking and chop shop banking are other examples of this type of alternative remittance system.
What is Hawala?
This type of trade-based money laundering is exemplified when a buyer and seller collude to create documentation indicating goods were sold and shipped and payments made, but actually nothing happened.
What is ghost-shipping?
These credit instruments guarantee payments.
What are letters of credit?
This type of money service can allow one person to hold multiple purses, and be virtually anonymous.
What is electronic money?
These types of shares allow whoever is holding them to have the value of them.
What are bearer shares?
Having an account holder's name on a list of suspected terrorists or frequent large cash deposits are examples of what/
What are factors that organizations must consider when combatting terrorist financing?
Trusts can be either of these two categories.
What are recovable or irrevocable?
This process transfers money in USD to pesos or vice versa depending on how the money is desired at the end of a payment lifecycle.
Black Market Peso Exchange
Administrators and Exchangers of virtual currency were recently classified as this type of business.
What are MSBs?
A member of an LLC is equivalent to this type of participant in a corporation.
What is a shareholder?
This is an example of an IVTS.
What is hawala?
This is defined as the illegal trade, smuggling, poaching, capture, and collection of endangered species and protected wildlife.
What is wildlife trafficking?
In wildlife trafficking, this stage in the process typically sees the lowest profits.
What is Sourcing?
After seeing a huge increase in profits, this convertible virtual currency has had its bumps and bruises in recent times.
What is Bitcoin?
Some money launderers use shell companies and can unintentionally or intentionally create this benefit.
What are harsher penalties for parole violators Stan... just kidding, what are jobs for their communities.
Because hawala is a remittance system it can be used during which phases of money laundering?
What are placement, layers, and integration phases?
What is the travel rule?