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18:37 Aug 19, 2017 |
Italian to English translations [Non-PRO] Bus/Financial - Finance (general) | |||||||
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| Selected response from: Alison Kennedy Italy Local time: 03:59 | ||||||
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4 +4 | Savings account |
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5 | savings account i agree! |
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Savings account Explanation: Believe me this is what it is called. In US, or a deposit account where liquid funds can be set aside with no or a imited number of withdrawals (6 I think per month in US but an unlimited number of deposits). Why it is important for money laundering? Because its a way of "hiding" funds of unknown origin, possibly from the proceeds of criminal activities or for terrorist financing and, when linked to a checking account, funds can be transferred which can then be freely withdrawn. I have just translated 5 legislative decrees on money laundering and terrorist financing (#231/2007, 151, 90, 109 and red flags) for a total of 100,000 words, I almost ended up speaking like a "legislative decree"! Alison |
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