ACAMS Trade-Based Money Laundering (TBML)

Question 1

What is the primary definition of trade-based money laundering (TBML)?

Accepted Answer

Using trade transactions to move value and disguise criminal proceeds

Answer

Importing goods without paying customs duties

Answer

Using shell companies to conduct export business

Answer

Moving cash across borders hidden in shipping containers

Question 2

Which TBML technique involves exporting goods and invoicing them at a price higher than the true market value?

Accepted Answer

Over-invoicing

Answer

Under-invoicing

Answer

Multiple invoicing

Answer

Phantom shipment

Question 3

A US bank notices a customer is receiving multiple payments from different overseas buyers for the same shipment of electronics. This is most indicative of which TBML red flag?

Accepted Answer

Multiple invoicing

Answer

Black market peso exchange

Answer

Phantom shipment

Answer

Round-tripping

Question 4

The Black Market Peso Exchange (BMPE) primarily originated from which illicit industry?

Accepted Answer

Drug trafficking

Answer

Arms trafficking

Answer

Human smuggling

Answer

Cybercrime

Question 5

Which international body has issued guidance specifically addressing TBML typologies and red flags?

Accepted Answer

Financial Action Task Force (FATF)

Answer

World Trade Organization (WTO)

Answer

International Monetary Fund (IMF)

Answer

World Customs Organization (WCO) alone

Question 6

Which of the following is a key indicator of a phantom shipment in a TBML scheme?

Accepted Answer

Payment is received but no corresponding goods movement is documented

Answer

Goods are shipped but the invoice is slightly incorrect

Answer

Multiple buyers pay for the same invoice

Answer

The price of goods is slightly above market rate