In money laundering,depositing currency into the bank without activating the reporting system is called placement.

Name: In money laundering,depositing currency into the bank without activating the reporting system is called placement.
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Question

In money laundering,depositing currency into the bank without activating the reporting system is called placement.​

Quizplus · Accepted Answer

Placement is the first step in the money laundering process where the illegally obtained currency is introduced into the financial system. This is done by depositing the funds into a bank account without triggering any reporting requirements.

In Money Laundering,depositing Currency into the Bank Without Activating the Reporting