n NISM Certifications
NSM General NISM
Medium

What is money laundering and how is it related to financial services?

Practice question from IC 38 Mock Test 12 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. The process of hiding illegal money to make it appear legal; criminals use financial services to launder money

    Correct answer

  2. B

    The process of hiding legal money to make it appear illegal; criminals avoid using financial services

  3. C

    The process of transferring funds legally to conceal their origin; financial services are not used

  4. D

    The process of transferring illegal funds openly; financial services are not used

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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