Series 28: Money Laundering Control Act

Taken from our Series 28 - Introducing Broker-Dealer Financial and Operations Principal Qualification Examination

Definition of the term Money Laundering Control Act...

legislation, passed in 1986, that criminalized money laundering, as well as the merchants and bankers who helped enable the practice. It also prohibits structuring and directs banks to establish procedures to ensure and monitor compliance with the Act's reporting and recordkeeping requirements.

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Solomon Exam Prep Study Materials for the Series 28
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