Money laundering is most accurately described as:
a. The use of funds illegally procured as a result of identity theft
b. The use of funds illegally obtained from a fraudulent mortgage lending transaction
c. Filtering money through a series of transactions in order to prevent the tracing of the funds to their original illegal source
d. Paying for financial goods and services with the use of funds deposited in an offshore banking account
Ans: c. Filtering money through a series of transactions in order to prevent the tracing of the funds to their original illegal source
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Which of the following is not true regarding payroll cards?
A) The employer can require employees to accept their wages on these cards. B) Employers use payroll cards because they are cheaper than issuing payroll checks. C) Fees are frequently associated with the cards. D) The cards are convenient for employees who lack bank accounts.
The trend toward an older America is bad news for furniture producers, hotels, airlines and home builders
Indicate whether the statement is true or false