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Country A's government requires financial institutions to report all instances of a customer depositing or withdrawing more than $10,000 in a day. To avoid attention regarding his illicit assets, James deposits $9,000 each day. In which of the following schemes is James engaging?
Suggested Answer: D
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15 comments · newest first
FE
Felicidad
3 months ago
Yeah, he’s manipulating the system. Structuring is the answer!
GE
Gerald
3 months ago
It’s smart but illegal. He’s trying to hide his money.
DO
Dominga
3 months ago
I agree, structuring fits best here.
BE
Bettyann
3 months ago
Right! He’s breaking it down to stay under the radar.
PE
Penney
3 months ago
Definitely! It's called structuring.
AD
Adelina
3 months ago
This is a tricky question. I think it's about avoiding detection.
FR
Franklyn
4 months ago
Just to clarify, structuring is definitely illegal in most places.
QU
Quentin
4 months ago
Yeah, but isn't there a risk of getting caught?
JO
Jonell
4 months ago
Wait, is that really illegal? Seems kinda sneaky but not too bad.
DU
Dusti
5 months ago
Totally agree, that's classic structuring to avoid reporting.
TR
Tracie
6 months ago
He's definitely using a structuring scheme.
TH
Thea
6 months ago
I think it's definitely structuring. The question mentions avoiding attention, which fits with that scheme.
LU
Luisa
6 months ago
I’m a bit confused. Is structuring the same as smurfing? I feel like I’ve seen both terms used in similar contexts.
SK
Skye
6 months ago
I remember a practice question about money laundering where someone was breaking up deposits to stay under a limit. That sounds like what James is doing here.
AM
Amira
7 months ago
I think this might be related to structuring, but I'm not entirely sure. It sounds like he's trying to avoid the reporting threshold.