ACFE Exam CFE-Law Topic 4 Question 42 Discussion

Actual exam question for ACFE's Certified Fraud Examiner (CFE) - Law exam

Question #: 42
Topic #: 4

[All Certified Fraud Examiner (CFE) - Law Questions]

Which of the following statements concerning digital currencies, such as bitcoin, is MOST ACCURATE?

ADigital currencies are subject to all of the same regulations as payments made through traditional financial institutions

BDigital currencies are attractive to money launderers because payments often cross jurisdictional boundaries, making it difficult for authorities to pursue enforcement

CDigital currencies are attractive to money launderers because they are a payment method that provides complete anonymity

DDigital currencies are not typically used to launder money due to strict customer identification or recordkeeping requirements enforced in all jurisdictions

Show Suggested Answer

Suggested Answer: B

by Eun at Jul 13, 2024, 07:28 AM

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20 days ago

I'm going with D. Digital currencies have strict identification and recordkeeping requirements, making them less useful for money laundering.

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Delila

4 days ago

User2: I think B is more accurate, because digital currencies can easily cross borders and make it hard for authorities to track.

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Meaghan

10 days ago

User1: I agree with you, D seems like the most accurate statement about digital currencies and money laundering.

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Ashlyn

29 days ago

I think the answer is C.

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Socorro

1 months ago

C is the correct answer. Digital currencies provide anonymity, which is a major appeal for money launderers.

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Maddie

1 months ago

I think option B is the most accurate. Digital currencies can be attractive for money laundering because cross-jurisdictional payments make it harder for authorities to track.

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Brock

10 days ago

I agree, option B does make sense. It's easier to hide illegal transactions with digital currencies.

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