CMA Final · Cost and Management Audit · Anti-Money Laundering
Which of the following is NOT listed in the Explanation to section 3 as a process or activity connected with proceeds of crime that can make a person guilty of money-laundering?
Layering through foreign subsidiaries is not one of the listed activities. The Explanation to section 3 names concealment, possession, acquisition, use, projecting as untainted property and claiming as untainted property as the processes that can make a person guilty of money-laundering.
- AConcealment
- BAcquisition
- CProjecting as untainted property
- DLayering through foreign subsidiariesCorrect
Explanation
The Explanation lists concealment, possession, acquisition, use, projecting as untainted property and claiming as untainted property. 'Layering through foreign subsidiaries' is a general descriptive term from money-laundering stages, not one of the listed activities.
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