Licentiate Examination - IC 14 - Regulation of Insurance Business Exam - Important Points
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Placement - Physically placing bulk cash proceeds
Layering - Separating the proceeds from criminal activity from their origins through layers of complex financial transactions
Integration - Providing an apparently legitimate explanation for the illegal proceeds
Financial Action Task Force (FATF) is policy-making inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing
KYC process is meant to weed the bad customers out and to protect the good ones.
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