ACFE Exam CFE-Investigation Topic 2 Question 70 Discussion

Actual exam question for ACFE's CFE-Investigation exam

Question #: 70
Topic #: 2

Which of the following is the MOST ACCURATE statement regarding a fraud examiner's ability to trace cryptocurrency transactions?

AEach Blockchain transaction contains a user's cryptographic address, which can help identify patterns that might link the user to criminal activity.

BMost jurisdictions do not require digital wallet providers to record any personal information about cryptocurrency users

CCryptocurrency ownership cannot be determined through an analysis of details on a subject's bank statements.

DMost cryptocurrencies rely on private block chains, which allow users' transactions to be completely anonymous and therefore difficult to trace.

Show Suggested Answer

Suggested Answer: C

by Lavonna at Jul 03, 2023, 11:20 PM

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Malika

1 months ago

Option C is just plain wrong. Analyzing bank statements can actually provide valuable clues about a subject's cryptocurrency ownership and activities.

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Lashandra

11 days ago

A) Each Blockchain transaction contains a user's cryptographic address, which can help identify patterns that might link the user to criminal activity.

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Johnathon

1 months ago

I'm going with option A. Tracing crypto transactions is not as easy as it may seem, but a skilled fraud examiner can definitely find patterns and links to potential criminal activity.

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Alberta

1 days ago

A) That's true, the cryptographic address can be a key piece in tracing suspicious transactions.

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Lonna

11 days ago

B) Most jurisdictions do not require digital wallet providers to record any personal information about cryptocurrency users

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Geraldo

20 days ago

A) Each Blockchain transaction contains a user's cryptographic address, which can help identify patterns that might link the user to criminal activity.

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Dominga

2 months ago

Haha, option B is clearly the funniest one. As if digital wallet providers would not have to record any personal info about their users. What a joke!

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Cyril

6 days ago

Haha, option B is clearly the funniest one. As if digital wallet providers would not have to record any personal info about their users. What a joke!

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Edelmira

7 days ago

C) Cryptocurrency ownership cannot be determined through an analysis of details on a subject's bank statements.

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Janine

1 months ago

A) Each Blockchain transaction contains a user's cryptographic address, which can help identify patterns that might link the user to criminal activity.

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Bulah

2 months ago

I disagree with option D. Most cryptocurrencies use public blockchains, not private ones, which makes transactions much more traceable than people think.

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Alline

2 months ago

Option A is the most accurate statement. A forensic accountant can definitely trace cryptocurrency transactions by analyzing the cryptographic addresses associated with each transaction.

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Lang

10 days ago

C) Cryptocurrency ownership cannot be determined through an analysis of details on a subject's bank statements.

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Steffanie

1 months ago

B) Most jurisdictions do not require digital wallet providers to record any personal information about cryptocurrency users

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Albert

1 months ago

A) Each Blockchain transaction contains a user's cryptographic address, which can help identify patterns that might link the user to criminal activity.

upvoted 0 times

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