Sanction Analyst Interview Questions and Answers

Money laundering is the illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source.

• Money laundering involves disguising the origins of illegally obtained money.

• It typically involves a series of transactions to make the money appear legitimate.

• Money laundering can involve complex financial transactions and multiple parties.

• Examples of money laundering include str...read more

Sanctions are penalties or restrictions imposed by countries or organizations to influence behavior or enforce laws.

• Sanctions can be economic, such as trade restrictions or asset freezes.

• They can also be diplomatic, like travel bans on individuals.

• Examples include UN sanctions against North Korea for nuclear activities.

• Sanctions aim to compel compliance with international laws or norms.

Layering is a form of financial fraud where multiple transactions are made to create confusion and hide the original source of funds.

• Layering involves multiple transactions to obscure the origin of funds.

• It is a common technique used in money laundering to make it difficult to trace the illegal source of funds.

• Examples of layering include transferring funds between multiple accounts in different countries or making numerous small transactions to avoid detection.