Money Laundering and its Prevention — Prelims Strategy

Prelims Strategy

Separate the statutory definition from the three-stage teaching model. Placement, layering and integration help explain common patterns, but a question claiming that all three must occur sequentially in every case should be checked against section 3 rather than accepted from a diagram.

Prepare the institutional roles precisely. FIU-IND receives, analyses and disseminates information; it should not be substituted for a court deciding guilt. Reporting entities have specified preventive duties, which should not be expanded into an identical duty imposed on every person in every transaction.

Read the noun attached to a measure. A suspicious transaction report is an intelligence input. Attachment restricts dealings with property under a legal process. A conviction is a judicial outcome. Moving from one to another requires additional steps and evidence.

For dates, distinguish the Act's title year, 2002, from its commencement in 2005 and FIU-IND's establishment in 2004. For FATF questions, distinguish technical compliance from effectiveness: a jurisdiction can have substantial legal provisions while still facing delays or implementation weaknesses.