Question

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

a.

By directly transferring large amounts of money between bank accounts

b.

By breaking up large amounts of money into smaller sums and depositing them directly into a bank account

c.

By purchasing luxury assets like cars and houses

d.

By investing in legal businesses

Answer: (b).By breaking up large amounts of money into smaller sums and depositing them directly into a bank account Explanation:Illegal money is commonly introduced into the financial system during the placement stage of money laundering by breaking up large amounts of money into smaller sums and depositing them directly into a bank account.

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

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