KNOW THE THREE STAGES OF MONEY LAUNDERING FOR THE SECURITIES INDUSTRY ESSENTIALS (SIE) EXAM
Are you planning to sit for the Securities Industry Essentials (SIE) Exam? Make sure that you are familiar with the definition of Money Laundering and its three stages.
FINRA publishes a Content Outline for the SIE exam, and it includes Anti-Money Laundering in Section 3.2.3. The Content Outline specifically mentions the three stages of Money Laundering - Structuring, Layering, and Placement.
Bob Eder covers Money Laundering in detail in his SIE study guide, Study for the Securities Industry Essentials Exam. Here is a sample of Bob Eder's discussion:
"Three Stages of Money Laundering (3.2.3)
"Criminal justice authorities have identified three stages of money laundering: placement, layering, integrating.
"Placement
In this initial stage, criminals try to insert monies
from criminal activities into the financial system. For example, smuggling
suitcases of cash across borders; using dirty money to pay off legitimate loans
or credit card balances; or exchanging the dirty currency for legitimate
currency of another country through means of a money exchange."
Here is the link to FINRA's Content Outline for the SIE Exam. See the references to Money Laundering in FINRA's Content Outline, in Section 3.2.3.
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