Question

How do criminals typically launder money?

a.

By depositing it in offshore accounts

b.

By moving the funds to high-risk jurisdictions

c.

By disguising its sources, changing its form, or relocating it to less scrutinized locations

d.

By declaring it as legitimate income for tax purposes

Posted under IC 14 Regulations of Insurance Business

Answer: (c).By disguising its sources, changing its form, or relocating it to less scrutinized locations Explanation:Criminals typically launder money by disguising its sources, changing its form, or relocating it to less scrutinized locations. This process helps to conceal the true origin and ownership of the proceeds of criminal activities.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. How do criminals typically launder money?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

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

Q. What risks does a financial institution or economy with poor anti-money laundering (AML) regime face?

View solution

Q. How can criminal proceeds entering the financial system affect its stability?

View solution

Q. What is one of the major threats posed by money laundering, especially post 9/11 attacks?

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!

Biochemistry

Delve into the intricate world of Biochemistry with our Biochemistry category....

Fluid Mechanics

Unlock the mysteries of fluids and their behavior with our Fluid Mechanics category....

Drug and Pharmaceutical Biotechnology

Navigate the world of pharmaceuticals and biotechnology with our dedicated category....

Molecular Biology

Dive into the intricate world of molecular biology with our specialized category....

Business Statistics

Uncover the power of data analysis with our Business Statistics category. Explore...

Avionics Engineering

Soar into the world of aviation technology with our Avionics Engineering category....

Irrigation Engineering

Master the science of Irrigation Engineering with our dedicated category. Explore...

Renewable Energy

Explore the sustainable future of energy with our Renewable Energy category. Dive...

Concrete Technology

Welcome to Concrete Technology, a category that unravels the secrets behind the...