All of the Following Are Elements of Money Laundering EXCEPT

question 55

Multiple Choice

All of the following are elements of money laundering EXCEPT ______.

• A) an agreement between two or more people
• B) a monetary transaction intended to disguise the source of the money
• C) a transaction intended to promote a specified unlawful activity
• D) money that constituted proceeds from the unlawful activity

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Definitions:

Voucher System

A financial control mechanism in accounting where vouchers are created for each transaction, and supporting documents are required for authorization before payment.

Bank Statement

A summary of financial transactions which have occurred over a given period on a bank account held by a person or business with a financial institution.

Deposits

Funds placed into a bank account or with some other entity for safekeeping, which can include money put in savings or checking accounts.

Electronic Funds Transfers

The electronic transfer of money between accounts by consumer electronic systems rather than the exchange of cash, checks, or other paper documents.