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Which of the following best describes 'structuring' as a red flag under anti-money laundering rules?
a.Buying flood insurance in installments
b.Refinancing to a lower rate
c.Breaking a large cash transaction into smaller amounts to evade reporting thresholds
d.Paying off a loan early
Giải thích
Structuring means deliberately breaking up a large currency transaction into multiple smaller transactions to keep each one below the reporting threshold and avoid triggering a Currency Transaction Report. It is a recognized money-laundering red flag and is itself a federal crime. Legitimate activities like refinancing or early payoff are not structuring.
Trích dẫn luật: Bank Secrecy Act / Anti-Money Laundering (FinCEN rules)Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Before closing a loan secured by improved real estate, a lender must obtain a determination of whether the property is located in a Special Flood Hazard Area. This determination is documented on:
- A borrower submits a complete loss mitigation application 40 days before a scheduled foreclosure sale. Under Reg X, the servicer generally must:
- A branch manager proposes paying originators an extra bonus on any loan that closes with a rate at least 0.25% above par. Under the LO Compensation Rule, this bonus structure is:
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- A borrower validly exercises the right of rescission on a home equity refinance within the three-day window. What is the effect on the security interest?
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