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03-01-2022, 07:56 PM

Hi,
I am wondering whether it is possible to get CLEP credits honored with a CC and then go on and get an Associates with them and transfer to an institution they have an articulation requirement with. Is that considered credit laundering? Thanks

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03-01-2022, 08:07 PM

Credit laundering is when you try to pretend that credits came from a different source than where they actually came from.

So long as both schools accept CLEP exams, and you don't try to disguise that they are CLEP exams (which I don't think would even be possible), you can reuse your CLEP exams to get as many degrees as you want (within reason, of course). Credits are not "used up" simply because they went toward another degree first, especially when it comes to Associate -> Bachelor's degrees.

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There's also the possibility that the second institution doesn't accept CLEP, but does accept the associates as a "block" transfer, regardless of the credit sources for the AA/AS. This too would not be credit laundering, but is another example of how these agreements sometimes work.

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03-02-2022, 12:08 PM

Yes, I think that is the case here. The second institution does not accept CLEP but the first does but they have an agreement. Hopefully, it would work.

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03-02-2022, 12:14 PM (This post was last modified: 03-02-2022, 12:17 PM by rachel83az.)

As long as they have an articulation agreement, it should work. But there is always the small chance that it won't work. It depends on the policies of the schools in question and the exact nature of the articulation agreement. I would suggest talking to an advisor at the school with the Associate's degree.

As an example, IIRC, Rio Salado and Arizona State University have an articulation agreement. I forget the exact details but I think that, even though there is a block transfer thing that goes on, it only applies to part of the Associate and not all of it or it only applies to certain programs at each school. Which I think is a bit weird, but I'm not the one making policies.

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03-02-2022, 02:24 PM

You do have to watch out if you’re trying to get a second bachelors. A lot of place require additional credits after the first degree, so essentially all credits earned before you graduate the first time are not factored into the new degree requirements. Essentially those credits are “used up”.

That’s not what you’re talking about, but I thought I’d throw it out there as a case when precious credits can’t be used.

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03-02-2022, 03:38 PM

(03-02-2022, 02:24 PM)Tedium Wrote: precious credits

my precious...

Northwestern California University School of Law
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Georgia Tech
MS Cybersecurity (Policy),2021

Thomas Edison State University
BA Computer Science,2023
BA Psychology,2016
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Certificate in Operations Management,2023
Certificate in Computer Information Systems,2023

WesternGovernors University
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03-02-2022, 03:49 PM

Lol *previous Credit laundering? (53)

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???

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Texas A&M University-Commerce -
BAAS General Studies
BAAS Organizational Leadership

COMPLETED:
Southeast Tourism Society - TMP (02/2020)
Pierpont Community and Technical College - AAS BOG, AOE: English(12/2018)
FEMA - PDS Certificate (04/30/2014)
GED (11/16/2004)

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03-02-2022, 05:56 PM

(03-02-2022, 12:14 PM)rachel83az Wrote: As long as they have an articulation agreement, it should work. But there is always the small chance that it won't work. It depends on the policies of the schools in question and the exact nature of the articulation agreement. I would suggest talking to an advisor at the school with the Associate's degree.
As an example, IIRC, Rio Salado and Arizona State University have an articulation agreement. I forget the exact details but I think that, even though there is a block transfer thing that goes on, it only applies to part of the Associate and not all of it or it only applies to certain programs at each school. Which I think is a bit weird, but I'm not the one making policies.

I think generally what happens is that schools say "if you took the Gen Ed's at a CC and want to transfer, we'll take those in a "block" but it's not necessarily 60cr since most schools don't require 60cr of GE.
----------------------------------------------------------------
I know for sure that in CA, the CC's will generally take CLEP &DSST exams - but the DSST exams will NOT transfer to the CSU-system schools, and the CLEP and DSST will NOT transfer to the UC-system schools. So, you can't take CLEP &DSST exams and then think that because the CC gave you an AA degree, that it will automatically transfer to a CSU/UC school; you actually have to get your CC courses certified that they meet the requirements of the CC and the 4yr school. So if you use a CLEP exam to meet a requirement, you can't get certified for a UC school (you can't get the IGETC certificate).

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Credit laundering? (2024)

FAQs

How to prove you are not money laundering? ›

Bank records and statements play a crucial role in proving the legitimate source of assets or cash. These documents provide a transparent and verifiable record of financial transactions, ensuring accountability and preventing money laundering or illegal activities.

What is money laundering answers? ›

Money laundering is a process of converting cash, funds or property derived from criminal activities to give it a legitimate appearance. It is a process to clean 'dirty' money in order to disguise its criminal origin.

What are the red flags for credit card money laundering? ›

Lack of activity: A credit card that is rarely used, but has a large balance, may be a sign that the card is being used to launder money. Suspicious shipping addresses: Purchases made with a credit card that are shipped to a different address than the cardholder's billing address may be a red flag for money laundering.

How do banks know if you are money laundering? ›

Pattern Detection: The system can identify patterns that are typical of money laundering, such as multiple small deposits followed by a large withdrawal. Behavioural Analysis: By comparing current transactions to the customer's usual behaviour, the system can detect anomalies that may indicate illegal activities.

What evidence do you need for money laundering? ›

Recent (not more than 3 months old) utility bill. Recent (current year) Council tax bill. Recent (not more than 3 months old) bank or building society statement showing current address. Recent (current year) mortgage statement from a recognised lender.

Is money laundering hard to prove? ›

Money laundering is a complex financial crime, and prosecutors need a watertight case to secure a conviction. Since the burden of proof lies with the prosecution, defendants can leverage legal assistance to fight money laundering charges, perhaps successfully.

How do banks investigate money laundering? ›

Evidence gathering and analysis. Investigators gather evidence, which may include transaction records, communication logs, and customer account histories. This phase is crucial in identifying the nature and extent of the fraudulent activity.

What is the easiest way to explain money laundering? ›

Money laundering involves disguising the origins of illegally obtained proceeds so that they appear to be legitimate – “laundering” them from dirty to clean, in other words. It is often associated with activities such as arms sales and smuggling, or corporate crime such as insider trading, bribery, or embezzlement.

What is the best example of money laundering? ›

Using casinos, criminals can launder money by buying chips with illicit funds, gambling, and then cashing out, creating a legal transaction history. This gives the money a “rinse” through the casino and creates a plausible paper trail of how the money was obtained legally.

What is a common method of money laundering using credit cards? ›

Money laundering using credit cards is usually focused on executing payments that appear legitimate to conceal the illegal nature of the funds used. The most common schemes utilising credit cards involve both the card holder and the merchant who accepts the payments.

How to catch a money launderer? ›

Detecting Digital Money Laundering
  1. Assembling details of possible and known networks of mules.
  2. Monitoring high-volume and suspicious transactions.
  3. Ensuring that the know your client (KYC) protocols are adhered to on a regular basis.
  4. Verifying funds, including their sources and beneficiaries.
Jun 5, 2024

Do banks get suspicious of cash withdrawals? ›

Some of the types of suspicious activities that banks look out for include: Large Cash Transactions: Banks may monitor cash transactions that exceed a certain threshold, as these transactions can be indicative of money laundering or other illegal activities.

What is the most common form of money laundering? ›

Reselling assets

Real estate is one of the most common vehicles for this type of money laundering, but luxury cars and other such items are popular placements for illicit funds.

What is the minimum sentence for money laundering? ›

However, a felony money laundering conviction has a minimum jail sentence of 16 months.

How do I know if someone is using me to launder money? ›

Warning signs include: rapid succession of transactions relating to the same property. use of cash or third-party intermediaries without adequate commercial explanation. use of overseas trusts or companies to conceal property ownership.

What is needed to prove money laundering? ›

Although the prosecutor need not prove any intent to promote, conceal or avoid the reporting requirements, it still must be shown that the defendant knew the property was derived from some criminal activity and that the funds were in fact derived from a specified unlawful activity.

How do they check for money laundering? ›

AML Checks as Part of Perpetual KYC

These checks help to identify and prevent money laundering, terrorist financing, fraud, or other financial crimes. They involve verifying the identity of customers, reviewing their transactions for suspicious activity or patterns and assessing the risk associated with them.

What documents are required for anti money laundering? ›

Below is a list of acceptable documents
  • Valid passport with full MRZ (machine readable zone).
  • Valid photo card driving licence (full and provisional).
  • Valid national identity card with MRZ.
  • Valid firearms certificate/shotgun licence.
  • Valid biometric residence permit.

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