Money laundering has become a specific
concern in all legitimate financial institutions worldwide.
Regardless of the exact means by which the attempt
to launder the money, distinct phases
have been identified. These are:
a) II, III, IV
b) I, III, IV
c) I, II, III
d) I, II, III, IV
The correct answer is b).
There are three phases to money laundering. Placement
is the physical disposal of the initial proceeds of
money derived from illegal activities. Layering involves
the creation of a set of transactions--often with one
financial institution in several jurisdictions--designed
to confuse the single source of funds. Integration,
the final phase involves placing the laundered funds,
often along with legitimate funds, into financial institutions.