ACFE Money Laundering Investigation 5

Question 1

Which cryptocurrency characteristic makes it particularly attractive for the placement stage of money laundering?

Accepted Answer

Peer-to-peer transactions can occur without a regulated financial intermediary

Answer

Peer-to-peer crypto transactions can bypass traditional financial institutions, allowing funds to be moved without triggering BSA reporting requirements at the placement stage.

Question 2

A CFE reviewing bank records notices a customer deposits $9,500 in cash on Monday, $9,400 on Tuesday, and $9,800 on Wednesday at three different branches. This pattern suggests:

Accepted Answer

Structuring to evade CTR filing requirements

Answer

Multiple sub-threshold cash deposits across different branches over consecutive days is a textbook structuring pattern designed to avoid the $10,000 CTR trigger.

Question 3

The USA PATRIOT Act expanded BSA requirements to include which new category of financial institution in AML program obligations?

Accepted Answer

Broker-dealers, mutual funds, and money services businesses

Answer

The USA PATRIOT Act extended BSA AML program requirements to broker-dealers, mutual funds, money services businesses, and other non-bank financial institutions.

Question 4

In a Ponzi scheme money laundering investigation, early investor returns paid from new investor funds are best characterized as:

Accepted Answer

Proceeds of wire fraud potentially subject to money laundering charges

Answer

Payments to early Ponzi investors using funds from later investors constitute proceeds of wire or mail fraud, making subsequent transactions potential money laundering violations.

Question 5

Which international body maintains a list of 'high-risk jurisdictions subject to a call for action' that financial institutions use to assess AML risk?

Accepted Answer

Financial Action Task Force (FATF)

Answer

FATF publishes its 'black list' and 'grey list' of high-risk and non-cooperative jurisdictions, which financial institutions use to calibrate AML due diligence.

(ACFE) Association of Certified Fraud Examiners Practice Test

(ACFE) Association of Certified Fraud Examiners Practice Test

ACFE Money Laundering Investigation 5