K2A1234

What is the third Stage of Money Laundering after first two stages of Placement and Layering?

• Integration
• Smurfing
• Colliding
• Laundering

What are the three stages of Money Laundering’ Please name the stages from stage one to three?

• Placement followed by Layering & Integration.
• Layering followed by Placement & Integration.
• Integration followed by Placement & Layering.
• Integration followed by Layering & Placement.

What is the process of introducing illicit funds into the financial system is called?

• Placement of funds
• Siphoning of funds
• Layering of funds
• Integration of funds

What is meant by 'Placement' process in Money Laundering Process?

• Placing reliance on fraudulent means to do business.
• Placing the amount of illegal money from one account to another through transfer entries.
• Physical disposal of illegal cash or property by infusing them into the financial system
• Placement of criminals in Money Laundry Process

What is meant by 'Integration' process in Money Laundering Process?

• Integration of different criminal activities for Money Laundering.
• Criminally derived assets which have been placed and layered are routed back to legitimate economy .
• Integration of different criminal groups for Money Laundering.
• Integrated efforts and activities of Money Launderers for successfully carrying out the TBML.

What is meant by Placement of Money in respect to Money Laundering?

• Placement represents the movement of 'proceeds of crime/ funds' through the financial system.
• Placement represents the layering of 'proceeds of crime/ funds' through various accounts.
• Placement represents the initial entry of 'proceeds of crime/ funds' into the financial system.
• Placement represents the placement of laundered funds back into the legitimate economy.

What is meant by 'Layering' process in Money Laundering Process?

• Separation of illicit proceeds from their original sources and beyond the grasp of local law enforcement agencies by layering of financial transactions with the intention to conceal the origin of the proceeds.
• Integrated efforts and activities of Money Launderers for depositing of proceeds of crime into financial system.
• Layering of different criminal activities for Money Laundering
• Creating layers of Cash for easily counting the money by Money Launderers

If cash is deposited in an account beyond the reporting threshold limit, what is the obligation upon a Bank under Prevention of Money Laundering Act-2002?

• Reporting of transaction under Counterfeit Currency Report (CCR) to FIU-IND.
• Reporting of transaction under Cross-border Wire-Transaction Report (CBWTR) to FIU-IND.
• Reporting of transaction under Non-profit Organisation's Transaction Report (NTR) to FIU-IND.
• Reporting of transaction under Cash Transaction Report (CTR) to FIU-IND.

Which transactions are reported under CTR?

• All cash transactions of the value of rupees ten lakhs or its equivalent in foreign currency.
• All cash transactions of the value of more than rupees ten lakhs or its equivalent in foreign currency.
• All cash transactions of the value of rupees ten lakhs and more or its equivalent in foreign currency.
• All cash transactions of the value of USD one million or its equivalent in Indian currency.

Which of the following reports, Bank is not obliged to submit to Financial Intelligence Unit-India (FIU- IND) under PMLA-2002?

• Cash Transactions Reports (CTRs)
• Counterfeit Currency Reports (CCRs)
• Non Profit Organisations Transactions Report (NTRs)
• Action Taken Reports (ATRs)