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illegal money

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA BT – FIA FBT › illegal money

  • This topic has 2 replies, 2 voices, and was last updated 1 month ago by Ken Garrett.
Viewing 3 posts - 1 through 3 (of 3 total)
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  • January 13, 2021 at 2:59 pm #605720
    tohir
    • Topics: 13
    • Replies: 4
    • ☆

    Which of the following are money laundering offences?
    (1) Failure to report fraud to the police
    (2) Investing funds knowing they are criminal property
    (3) Concealing the source of criminal property
    (4) Accepting large amounts of cash from customers
    A) 1,2,3 and 4
    B)2 and 3 only
    C)1 and 4 only
    D)1, 2 and 3 only
    For me all of them is true but I have question about 4 Can you help me to understand fully all of them please

    January 14, 2021 at 5:43 am #605760
    tohir
    • Topics: 13
    • Replies: 4
    • ☆

    For me all also

    January 14, 2021 at 7:40 am #605764
    Ken Garrett
    Keymaster
    • Topics: 9
    • Replies: 9047
    • ☆☆☆☆☆

    1 should be reported but it is not part of money laundering. No money is necessarily involved eg it could be stealing goods
    4 this is ok provided you know where the money comes from eg it is not from drug-running

    2 and 2 are caught by money laundering.

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