Students were asked to answer a question at school and to indicate what is most important for them to succeed. Of the numerous reactions, one that that stood out was practice. Persons who are definitely successful do not become successful by being born. They work hard and commitment their lives to succeeding. This is how you can complete your goals. in this article, are one of the answer and question example that you will possibly work with to practice and expand your practical knowledge and also give you insights that could help you to sustain your study in school.
Question:
Joe is a regular customer. He’s been in 4 times over the past two weeks. Each
time, he’s received a wire transfer of $2000. He immediately sends a wire for
$500 and comes back into the store the next day to send 3 more money
transfers of $500 each to 3 different people.
The situation raises the following Red Flags (Select all that apply)
Joe has multiple friends.
Joe’s transaction activity is frequent and for larger dollar amounts.
Joe is breaking up the transaction into smaller amounts.
Joe sometimes purchases other items in the store such as toothpaste and medicine.
Joe is breaking up received money into smaller amounts of money and sending to
several people.
Answer:
Answer:
Joe’s situation raises the following Red Flags:
Joe is breaking up the transaction into smaller amounts.
Explanation:
Joe is following money laundry footsteps. I suspect that he may be involved in some fraudulent practices, no wonder he is making some frantic efforts to launder the wire transfer of $2,000. He had completed sending some of the proceeds to some other persons. Perhaps, he will remit more cash in similar ways.
From the answer and question examples above, hopefully, they may assist the student answer the question they had been looking for and notice of each and every step declared in the answer above. Then can potentially make some sharing in a group discussion and also study with the classmate relating to the topic, so another student also own some enlightenment and still keeps up the school learning.