ACFE CFE-Law : Certified Fraud Examiner

In common law jurisdictions failing to suspend routine destruction of electronic data can result in sanctions for failure to preserve relevant evidence

• A. True
• B. False

Which of the following statements regarding using front businesses as a method of laundering money is MOST ACCURATE?

• A. Front businesses are a favored method because it is easy to match the costs associated with providing customers food, liquor, and entertainment with the revenues produced.
• B. Front businesses can often be detected because these businesses have a large number of customers during peak operating hours and high income.
• C. A front business that conducts legitimate business can provide cover for delivery and transportation related to illegal activity.
• D. Bars, restaurants, and nightclubs are commonly used as front businesses because these venues tend to charge relatively low prices and customers rarely vary in their purchases.

Which of the following is generally NOT one of the goals of deferred prosecution agreements?

• A. To reduce the risk of illegal practices at an organization
• B. To get an organization to reform its policies
• C. To allow prosecutors to resolve a case while still punishing malfeasance
• D. To postpone prosecution until a company conducts an extensive internal investigation

Bob receives a memorandum from his attorney that is protected by a legal professional privilege Bob emails the memorandum to a third party who has no need to know the information in the memorandum Which of the following statements is MOST ACCURATE?

• A. Bob did not waive the privilege because the legal professional privilege cannot be waived by transmitting protected information to a third party
• B. Bob did not walve the privilege because the legal professional privilege belongs to the attorney, not the client
• C. Bob might have waived the privilege because he used email to transmit the protected information.
• D. Bob might have waived the privilege because he transmitted the protected information to a third party who has no need to know the information

The Financial Action Task Force (FATF) Recommendations advise countries to do all of the following EXCEPT:

• A. Require financial institutions to monitor their customers ' political affiliations.
• B. Use a risk-based approach when setting anti-money laundering policies
• C. Enable authorities to trace freeze, and confiscate assets suspected in money laundering and terrorist financing
• D. Require financial institutions to keep certain records and establish anti-money laundering policies.