ACFE Exam CFE-Law Topic 1 Question 31 Discussion

Actual exam question for ACFE's Certified Fraud Examiner (CFE) - Law exam

Question #: 31
Topic #: 1

[All Certified Fraud Examiner (CFE) - Law Questions]

Which of the following is an example of a trade-based money laundering scheme?

AAn importer and an exporter conspire to conceal illicit funds by creating invoices that understate the quantity of goods shipped internationally

BAn accountant overstates a restaurants revenues to hide illegal funds that are secretly laundered through the business

CA drug cartel outside of the United States launders illicit funds by hiring runners to deposit small amounts of money in bank accounts throughout the United States

DA businessperson deposits illicit funds into the bank account of a company they secretly own which then lends the funds back to them

Show Suggested Answer

Suggested Answer: A

by Tonette at Mar 06, 2024, 06:16 PM

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Mitsue

1 days ago

I agree with Bernardine, because understating the quantity of goods shipped can be used to conceal illicit funds.

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Bernardine

2 days ago

I think the answer is A.

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