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Banking Exam
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Which of the following scenarios best illustrates the 'layering' stage of money laundering?
A criminal group uses a cash-intensive front business, like a car wash, to co-mingle illicit and legitimate funds.
An individual purchases a luxury property with funds that have been moved through various offshore accounts.
A 'smurf' deposits $9,500 in cash into a bank account to avoid reporting thresholds.
An individual transfers funds through a complex series of wire transfers to multiple accounts in different countries.
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Correct Answer:
An individual transfers funds through a complex series of wire transfers to multiple accounts in different countries.
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