Question

What is the purpose of anti-money laundering guidelines?

a.

To promote illegal activities

b.

To facilitate money laundering

c.

To prevent funds from being routed through illegal channels

d.

To encourage terrorism

Posted under IC 14 Regulations of Insurance Business

Answer: (c).To prevent funds from being routed through illegal channels Explanation:The purpose of anti-money laundering guidelines is to prevent funds from being routed through illegal channels for use against public interest. These guidelines aim to safeguard the integrity of the financial system and protect society from economic consequences.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is the purpose of anti-money laundering guidelines?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What do Know Your Customer (KYC) norms aim to achieve?

View solution

Q. What is the primary goal of money laundering?

View solution

Q. How do criminals typically launder money?

View solution

Q. Why is the term "money laundering" considered apt?

View solution

Q. What is a common preference of money launderers regarding financial systems?

View solution

Q. What are some common reasons for money laundering?

View solution

Q. Why is the issue of money laundering gaining global attention?

View solution

Q. What are the stages of money laundering?

View solution

Q. What typically happens during the placement stage of money laundering?

View solution

Q. How is illegal money commonly introduced into the financial system during the placement stage of money laundering?

View solution

Q. What is "smurfing" in the contect of money laundering?

View solution

Q. What is the main objective of the layering stage of money laundering?

View solution

Q. What activities may be involved in the integration stage of money laundering?

View solution

Q. What is the method of "structuring deposits" commonly known as in money laundering?

View solution

Q. What are shell companies used for in money laundering?

View solution

Q. What purpose do overseas banks serve in money laundering?

View solution

Q. Which countries are considered major offshore centers for money laundering?

View solution

Q. How are telegraphic transfers used for money laundering?

View solution

Q. How has the return premium been used for money laundering?

View solution

Q. In what scenarios should insurers be especially vigilant regarding overpayment of premiums?

View solution
View All MCQs on IC 14 Regulations of Insurance Business

Recommended Subjects

Are you eager to expand your knowledge beyond IC 14 Regulations of Insurance Business? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Chemistry

Unlock the mysteries of chemistry with our Chemistry category. Delve into the...

Mass Transfer

Delve into the science of Mass Transfer with our specialized category. Explore...

Environment Management

Master the art of Environment Management with our specialized category. Explore...

Cell Biology

Delve into the fascinating world of Cell Biology with our specialized category....

Bioinformatics

Unlock the power of data analysis in biology with our Bioinformatics category....

International Relations

Navigate the complex world of International Relations with our dedicated category....

Geotechnical Engineering

Dive into the world of Geotechnical Engineering with our dedicated category. Explore...

Verbal Reasoning

Sharpen your logical thinking and reasoning abilities with our Verbal Reasoning...

Enzyme Technology

Unlock the power of enzymes with our Enzyme Technology category. Explore enzyme...