CAMS · Question #502
Potential indicators of money laundering associated with Trust and Company Service Providers include: (Select Two.)
The correct answer is A. use of legal persons in jurisdictions with strict secrecy laws. C. multi-jurisdictional wire transfers with no legal purpose. This is stated in the Certified Anti-Money Laundering Specialist (the 6th edition) manual on page 595, which states: "Potential indicators of money laundering associated with Trust and Company Service Providers include the use of legal persons in jurisdictions with strict…
Question
Potential indicators of money laundering associated with Trust and Company Service Providers include: (Select Two.)
Options
- Ause of legal persons in jurisdictions with strict secrecy laws.
- Bstructuring cash deposits into third party accounts.
- Cmulti-jurisdictional wire transfers with no legal purpose.
- Dgeneration of rental income to legitimize illicit funds.
- Efrequent deposits to or withdrawals from bank accounts.
How the community answered
(33 responses)- A76% (25)
- B3% (1)
- D6% (2)
- E15% (5)
Explanation
This is stated in the Certified Anti-Money Laundering Specialist (the 6th edition) manual on page 595, which states: "Potential indicators of money laundering associated with Trust and Company Service Providers include the use of legal persons in jurisdictions with strict secrecy laws, structuring cash deposits into third party accounts, multi-jurisdictional wire transfers with no legal purpose, and frequent deposits to or withdrawals from bank accounts."
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