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Module 1 (March 16, 2020)
Module 1 (March 16, 2020)
MODULE 1: LESSON 1
For March 16, 2020
For BSA 2 and BSMA 2
Concept:
Money laundering is essential for criminal organizations that wish to use illegally obtained
money effectively. Dealing in large amounts of illegal cash is inefficient and dangerous.
Criminals need a way to deposit the money in legitimate financial institutions, yet they can only
do so if it appears to come from legitimate sources.
Questions:
Answer the following, in a yellow sheet of paper. It must be handwritten. Further, do not
write anything at the back of the sheet.
b. non-banks,
c. quasi-banks,
d. trust entities
3. What are the unlawful activities being defined and enumerated by law?