What is the Federal Currency Transaction Reporting (CTR) requirements and how do the address money laundering?
What will be an ideal response?
Answer: The CTR is a report that U.S. financial institutions are required to file with FinCEN for each deposit, withdrawal, or exchange of currency that is more than $10,000. This is a means to check for money laundering. Illegal drug transactions are usually cash transactions, commonly using large amounts of currency to pay off the various actors in each drug deal and to purchase sophisticated equipment. Obviously, the trafficker could choose to store the cash in a strongbox or wall safe, but such methods would not be plausible for the trafficker who generates hundreds of thousands or even millions of dollars in illegal cash each year. To combat this technique, the Treasury Department implemented the CTR, requiring banks to report cash transactions of $10,000 or more. In 1989, the U.S. government processed an estimated 7,000,000 CTRs compared with an estimated 100,000 ten years earlier. Traffickers quickly circumvented this requirement by developing such activities as corrupting bank employees.
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There are five types of conflict behavior that were created by Thomas (1985)
Indicate whether the statement is true or false
Greater access to juvenile records mean that subsequent adult sentencing may be ____________________ under three-strikes laws or pursuant to sentencing guidelines in both the federal and state criminal-justice system
Fill in the blank(s) with correct word
_______________ terrorism promotes the interests of a minority ethnic or religious group that believes it has been persecuted under majority rule.
Fill in the blank(s) with the appropriate word(s).
______ in corrections occurs when services are provided by or whole correctional institutions are operated by private businesses or corporations.
a. Privatization b. A corrections industrial complex c. Penal harm d. Penal help