Money Laundering and Preventive Measures Against Getting Duped

The video explores money laundering, detailing its stages: placement, layering, and integration. It highlights techniques like shell companies and smurfing, and discusses the societal impact, including crime and economic destabilization. Anti-money laundering measures, such as the Prevention of Money Laundering Act and KYC procedures, are explained. The video also covers scams like phishing and investment fraud, offering preventive tips like staying alert and securing personal information.

What is the primary goal of money laundering?

• To make illegal money appear legitimate

• To evade paying taxes

• To increase the amount of money

• To invest in legal businesses

Which stage of money laundering involves introducing illegal money into the financial system?

• Integration

• Layering

• Placement

• Smurfing

What is a common technique used in the layering stage of money laundering?

• Opening a restaurant

• Creating shell companies

• Investing in real estate

• Bulk cash smuggling

How does money laundering impact society?

• It increases government revenue

• It stabilizes the economy

• It promotes international trade

• It fuels crime and erodes trust in financial systems

Which legislation in India provides a framework for combating money laundering?

• The Financial Intelligence Act

• The Prevention of Money Laundering Act

• The Financial Security Act

• The Anti-Fraud Act

What is a phishing scam?

• A scam involving fake investment opportunities

• A scam that tricks individuals into revealing personal information

• A scam promising lottery winnings

• A scam involving real estate fraud

Which of the following is a preventive measure against scams?

• Using strong, unique passwords

• Investing in all opportunities

• Sharing personal information freely

• Ignoring all emails