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ACFE CFE-Law Exam - Topic 1 Question 27 Discussion

Which of the following is an example of a trade-based money laundering scheme?
A) An importer and an exporter conspire to conceal illicit funds by creating invoices that understate the quantity of goods shipped internationally
B) An accountant overstates a restaurants revenues to hide illegal funds that are secretly laundered through the business
C) A 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
D) A businessperson deposits illicit funds into the bank account of a company they secretly own which then lends the funds back to them

ACFE CFE-Law Exam - Topic 1 Question 27 Discussion

Actual exam question for ACFE's CFE-Law exam
Question #: 27
Topic #: 1
[All CFE-Law Questions]

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

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Suggested Answer: A

by Wilda at Dec 09, 2023, 12:10 AM

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Christiane
8 months ago
D is just plain shady, no way that's legit!
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Carry
8 months ago
C seems more like a classic money laundering method.
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Malika
8 months ago
Wait, how is A legal at all? Sounds sketchy!
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Louisa
9 months ago
I think B is more about business fraud, not trade.
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Claribel
9 months ago
A is definitely trade-based money laundering.
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Lisha
9 months ago
I’m confused about option D. It seems like it could be a form of money laundering, but I don’t think it fits the trade-based definition.
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Dorian
9 months ago
I feel like option C is more about layering than trade-based laundering. It’s tricky because they’re both money laundering methods.
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Devon
9 months ago
I remember a practice question about money laundering schemes, but I’m not sure if overstating revenues counts as trade-based. That makes me hesitate on option B.
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Malcolm
9 months ago
I think trade-based money laundering involves manipulating trade invoices, so I’m leaning towards option A.
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Stefanie
9 months ago
I think the key here is identifying which one involves manipulating international trade transactions to hide illicit funds. That points to A as the best example of a trade-based money laundering scheme. The others seem more focused on domestic financial transactions.
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Chana
10 months ago
Okay, let me break this down. A and D both involve businesses being used to launder money, but A specifically mentions concealing the quantity of goods shipped, which seems like the clearest example of a trade-based scheme. I'm leaning towards A as the answer.
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Mignon
10 months ago
Hmm, I'm not totally sure about this one. I know trade-based schemes are a common way to launder money, but I'm not 100% confident which of these examples is the best illustration. I'll have to think it through carefully.
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Mammie
10 months ago
This question seems straightforward - I think the answer is A, where the importers and exporters create false invoices to conceal illicit funds. That's a classic trade-based money laundering scheme.
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Lashawnda
10 months ago
I think the key here is that some users need the Administrator role, but the default is Guest. So the configuration item that needs to be created is the Remote User role with the Administrator permissions. That should solve the problem.
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Malinda
10 months ago
This is a tricky one, but I'm going to use the process of elimination to narrow it down and make an educated guess.
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Nina
10 months ago
I'm a bit confused by this question. I'll need to re-read it and make sure I understand the key factors to consider.
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Lindsey
10 months ago
Hmm, I'm a bit confused on this one. I know sudo is used to run commands as root, but I'm not sure if it's the user's password or the root password that's required. I'll have to think this through carefully.
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Adell
10 months ago
Key words like 'educate physicians' and 'documentation standards' scream Health Information Manager. That's definitely the most comprehensive role for this task.
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