According to AUSTRAC, what is an ‘underground banking system’?Informal Value Transfer System (IVTS)Alternative Remittance System (ARS)Money Value Transfer System (MVTS)Group of answer choicesAnswers I and III OnlyAnswers I and II OnlyNone of the available answersAll of the available answersAnswers II and III Only

According to AUSTRAC, why is ARS or Alternative Remittance Systems significant? Fill in the blanks (type correct answers into text boxes at each blank). “(ARS) has become a significant vehicle to transfer money into and out of a . It plays an important role in the laundering of drug monies, the financing of terrorism, human trafficking, and the of foreign currency controls, taxes and customs duties. It also has played a legitimate role, for example, in facilitating by migrants.”

True or False? “ARS or Alternative Remittance Systems move value from one location to another by transferring funds through the regulated financial system.”

According to AUSTRAC, what is Alternative Remittance? Fill in the blanks (type correct answers into text boxes at each blank). “Alternative remittance’ refers to usually provided within ethnic community groups and known by particular to each culture. Generally, such services accept cash, cheques or monetary instruments in one location and pay an equivalent amount to a in another location.”

What system is made up of institutions, agreements, rules, and processes that allow for the cross-border movements of capital required for international transactions?Multiple choice question.international monetary systemWorld Bank systemfree-trade systemglobalization system

Which of the following is not used as an instrument or tool for conducting monetary policy in Australia?Group of answer choicescash (interbank) marketreserve deposit ratioopen market operationcash rate