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CAFCA Manual Exam With 100% Correct And Verified Answers
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CAFCA Manual Exam With 100% Correct And Verified Answers
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CAFCA Manual Exam With 100% CorrectAnd Verified Answers
What is financial crime? - Correct Answer-Illegal
activities that are usually economically motivated.
What is money laundering? - Correct 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 - Correct
Answer-- Placement
- Layering
- Integration
What is terrorist financing? - Correct 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? - Correct 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.
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, What is fraud? - Correct Answer-An International
act of criminal deception in order to obtain an
unjust or illegal advantage. Usually for personal
gain.
Reasons people commit fraud - Correct Answer--
Pressure
- Opportunity
- Rationalization
4th Capacity
What is anti-bribery and corruption? - Correct
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? - Correct
Answer-- The Foreign Corrupt Practices Act US
- The UK Bribery Act 2010
What is tax avoidance? - Correct Answer-The legal
means to reduce the tax owed.
What is tax evasion? - Correct Answer-The illegal
means to avoid paying tax owed.
Regulation to combat tax evasion? - Correct
Answer-The Foreign Account Tax Compliance Act
(FATCA)
Types of financial crime risks? - Correct Answer--
Regulatory
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