Hank brings several thousand dollars in cash to a small bank and exchanges it for cashier's checks. If this transaction is part of a money laundering scheme, it represents which stage in the process?

Placement

Explanation:

Money laundering is an illegal process of concealing the money obtained through an illegal act by passing it through a series of other complex transactions .

It involves the three stages of placement , layering and integration.

Placement is the first stage of money laundering after movement from the source where illegal proceeds are disguised by placing them into circulation through deposit into financial institution to allow easy layering.

Hank's action of exchanging the stolen money for cashier's check is a typical example.

answer; according to the ( irs );