Terrorist Financing Flashcards
1
Q
CFT stands for
A
Countering the financing of terrorism
2
Q
Difference between ML and TF
A
The difference between them is the source of funds and who the ultimate beneficiaries are
3
Q
Terrorist financing
A
- supports a political purpose
- money is not necessarily derived from illegal activities
- Individuals who raise the funds are not necessarily the beneficiaries.
- the terrorist activity Is the direct beneficiary
- funding is also used for living expenses
4
Q
MONEY LAUNDERING ALWAYS INVOLVES
A
proceeds from illegal activities
5
Q
Hawala system
A
trusted individuals outside of the legitimate banking system
