Question

The anti-money laundering provisions of the USA Patriot Act require insurers to report any cash payments received that are greater than ________.

1) 10,000
2) 5,000
3) 15,000
4) 20,000

Answer 1

The anti-money laundering provisions of the USA Patriot Act require insurers to report any cash payments received that are greater than $10,000.

Step-by-step explanation:

The correct answer is 1) 10,000.

The anti-money laundering provisions of the USA Patriot Act require insurers to report any cash payments received that are greater than $10,000. This means that if an insurer receives a cash payment of $10,000 or more, they are required by law to report it to the appropriate authorities.

For example, if an individual purchases an insurance policy with a cash payment of $12,000, the insurer would be required to report this payment.