Fraud Chapter 7 - 1 The Treasury Department is the U.S government agency charged with enforcing the most specific statutes against money laundering in

Fraud Chapter 7 - 1 The Treasury Department is the U.S...

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1. The Treasury Department is the U.S. government agency charged with enforcing the most specific statutes against money laundering in the United States. *a. True b. False 2. Correspondent banks allow citizens from all over the world to have bank accounts within any U.S. bank. *a. True b. False 3. Banks file their official reports about suspected money laundering activities with the Federal Trade Commission. a. True *b. False 4. Traceroute will show the web server path taken by a message over the Internet. *a. True b. False 5. HTTP stands for Hightext Transfer Protocol. a. True *b. False 6. A static IP address is easier to trace than a dynamic IP address. *a. True b. False 7. Bearer stock allows the owner of the shares to remain unidentified. *a. True b. False 8. Money laundering is usually a separate crime by itself. a. True *b. False 9. Since the passage of the Patriot Act, shell banks without any physical presence in any jurisdiction are prohibited from operating in the United States. *a. True b. False 10. The purpose of money laundering is to: a. Take illegitimate funds and make them look like they were earned from legitimate business activities. b. Purposefully transfer restricted grant monies into discretionary accounts through confutation. c. Secretly take suitcases full of money from one country to another. *d. All of the above. e. Only a and b. 11. A first step in a money laundering operation is to: a. Obtain legal money. *b. Deposit illegal money into the banking system. c. Open a correspondent account. d. Send a money wire transfer to another country. e. None of the above. 12. What is an important factor in creating the need to start a money laundering operation? *a. Successful criminal activities. b. The increase in international business. c. Drug smuggling. d. The Internet. e. None of the above. 13. The reason most money laundering schemes seem to be uncovered is due to: a. Forensic accountants. b. Bank officials. c. The FBI. d. A squealer about the operation. *e. Both b and d. 14. To avoid detection by law enforcement authorities, money launderers will only send a maximum money transfer that is: a. $5,000 or less. *b. $10,000 or less. c. $15,000 or less. d. $20,000 or less. e. None of the above. 15. Banks must file which of the
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