Money Laundering normally involves [BOB 2008]

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	placement of funds
B	layering of funds
C	integration of funds
D	All the above

Explanation:

Detailed explanation-1: -Money laundering involves disguising financial assets so they can be used without detection of the illegal activity that produced them. Through money laundering, the criminal transforms the monetary proceeds derived from criminal activity into funds with an apparently legal source.

Detailed explanation-2: -Reselling assets Cash can be made to look legitimate through reselling. Criminals may purchase big-ticket items with cash, and then quickly resell those items to have money they are able to actually use in their bank account. Real estate, luxury cars, and other such items are popular placements for money laundering.

Detailed explanation-3: -This typically happens when illegal funds are placed into a reporting institution. Creating multiple layers of transactions to distance or disguise the illegal funds from their illegal sources. This is to obscure or make it difficult to trace the origin of the illegal funds.

There is 1 question to complete.