Learning Material Sample
Financial crime3. Money Laundering It is often hard for criminals to openly use the funds gained from criminal activities, especially if they are carrying out monetary transactions where they can be...
Shortened demo course. See details at foot of page. ...s where appropriate taxation has not been paid.There are several forms of money laundering and it is an international problem, which can affect all industries. Money laundering is usually a three-stage process:
Placement. Illegal funds are paid into legitimate financial arrangements with reputable institutions such as life assurance policies or building society accounts. Layering. Layering will involve a number of transactions to hide the original source of the criminal funds. The number of transactions is unlimited depending upon how far the criminal wan... Shortened demo course. See details at foot of page. ...esting cover for assets in countries where drugs trade is prevalentInvestments & savings – particularly with options for early surrender Large lump Sum Investments & Pension arrangements: group or individual Funding with third party payments or foreign currency transfers Channelling funds through offshore accounts Unusual relationshiips between settlors and beneficiaries |
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