Money Laundering Flashcards
1
Q
List the key money laundering statutes.
A
- Bank Secrecy Act of 1970;
* Money Laundering Control Act of 1986.
2
Q
List the two key prohibitions related to money laundering.
A
- Transaction money laundering;
* Transportation money laundering.
3
Q
Define “money laundering”.
A
The process by which one conceals the existence, illegal source, or illegal application of income and disguises that income to make it appear legitimate.
