CAF-4 · Chapter 15 · Question 1 of 9
How is 'Money Laundering' fundamentally defined?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) The process whereby proceeds of crime are converted into assets appearing to have a legitimate origin.
Explanation
Money laundering is the illegal process of taking 'dirty' money generated by criminal activity (predicate offence) and 'laundering' it to make it look like clean, legitimate income.
More Anti-money laundering and electronic payments MCQs
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