Money Laundering: Basics (2023)
About the Lecture
The lecture Money Laundering: Basics (2023) by Lecturio Online Courses is from the course Money Laundering (2023).
Included Quiz Questions
In which cases would you be guilty of money laundering? (Multiple answers are possible)
- If you infiltrate illegally generated funds or assets into the legal, financial circuit.
- If you record illegally obtained funds as income from your own laundromat.
- If you invest large sums of money in your own laundromat.
- If you withhold legally earned funds or assets from the financial cycle.
You are in the car trade. A customer is interested in a car worth 10,000 euros. When you enter into the purchase conversation, he makes it clear that he would like to pay for the car in cash. You ask for his identity card. But the customer explains that he has misplaced it. How do you respond? (Only one answer is correct. )
- You declare that he must identify himself. Otherwise, you can not sell him the car.
- You declare that the identity card of another person will be enough. The main thing is that you have recorded a personal in the book of business.
- You explain that without ID he can only pay in installments: A deposit of €5,000 and the remaining €5,000 within one month.
- You state that you cannot complete the purchase because it is over the international limit for cash transactions.
You have a suspicion of money laundering. How do you react? (Several answers are possible.)
- You immediately report the incident to the Financial Intelligence Unit (FIU) or other appropriate authorities.
- You report the incident to your superiors.
- You just wait and see. An unfounded suspicion alone is not sufficient for an official report.
How can you prevent money laundering in your company? (Multiple answers are possible)
- By setting up a control and monitoring system.
- By informing your employees about the obligations under the Money Laundering Act (e.g., duty of identification).
- By training your employees to deal with irregularities.
- By avoiding cash payments as a whole.
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Author of lecture Money Laundering: Basics (2023)
Lecturio Online Courses
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