ITPEC IP April 2024 Question 92
ITPEC IP April 2024 — Question 92 of 100
Anti-money laundering consists of controls designed to prevent illegally obtained funds from being disguised as legitimate. Financial institutions apply customer due diligence, identity verification, transaction monitoring, record keeping, sanctions screening, and reporting of suspicious activity. These measures detect and disrupt placement, layering, and integration of criminal proceeds.
Answer (a)
Why not others:
- (b) insider-trading rules address trading securities using material nonpublic information
- (c) Skimming steals payment-card or account data, often during a legitimate transaction
- (d) Phishing impersonates a trusted party to steal credentials or induce unsafe actions
Key rule: AML targets the process of concealing criminal proceeds and making them appear to come from lawful sources.
AI-generated — may contain errors
The original exam layout is preserved in the image so diagrams, formulas, tables, and code remain accurate.
This question comes from an official ITPEC past paper. ITPEC Practice is an independent study tool and is not affiliated with ITPEC. See the official IP past-paper collection or Report an issue.