What is Money Laundering
The term used to describe how criminals disguise the original ownership and controls of the proceeds of criminal conducts by making such proceeds appear to have come from a legitimate source.
What is The definition of money laundering?
Person laundering money Companies that the stolen money is spent at Banks Government Society Bankers he works with Investors
Name two stakeholders in money laundering.
They are indicators of money laundering
What are Red Flags?
South American country known for drug trafficking
What is Colombia?
Al Capone
Who was the first person to be credited with the idea of money laundering?
The Economy
Which Stakeholder is most effected through the act of Money laundering?
Placement, layering and integration
What are the three stages of money laundering?
Placement, layering and integration
What are the three stages of money laundering?
“You bribe someone here, you bribe someone there, and you pay a friendly banker to help you bring the money back.”
What was Pablo Escobar's famous quote about money laundering?
Money laundering indicators
What are red flags?
Attempt to avoid triggering reporting requirements
What is structuring?
The organisation that published the 40 Recommendations to combat ML/TF
What is FATF
Results of studies of ML trends/patterns/techniques
What is Typology?
Drug trafficking due to proximity to Florida
What is the Bahamas?