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CAFCA Manual Exam Questions With 100% Correct Answers.
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CAFCA Manual Exam Questions With 100% Correct Answers.
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CAFCA Manual Exam Questions With 100% Correct Answers.What is financial crime? Answer- Illegal activities that are usually economically motivated.
What is money laundering? Answer- The process of concealing or disguising the existence, source, movement, destination, or illegal application of criminally derived property or funds to make them appear legitimate.
Three stages of money laundering Answer- - Placement
- Layering - Integration
What is terrorist financing? Answer- Involves fund for an illegal political purpose to support terrorist activities. However, money is necessarily derived from the proceeds
of illegal activity. Hawala system plays a big roles in moving terrorist related funds.
What are sanctions? Answer- Political decision made as part of diplomatic efforts by
countries, regional organization, and international bodies. Sanctions are primarily a foreign policy and security tool. Sanctions are intended to affect behavioral change through deterrence, prevention, or punishment.
What is fraud? Answer- An International act of criminal deception in order to obtain an unjust or illegal advantage. Usually for personal gain.
Reasons people commit fraud Answer- - Pressure - Opportunity - Rationalization
4th Capacity
What is anti-bribery and corruption? Answer- Bribrery is the giving or receiving of a financial or other advantage in connection with the improper performance of a position or trust, or a function that is expected to be performed impartially, or in good faith.
Anti-bribery and Corruption Law? Answer- - The Foreign Corrupt Practices Act US
- The UK Bribery Act 2010
What is tax avoidance? Answer- The legal means to reduce the tax owed.
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