Bearer Bonds, Securities and Cheques
Bearer bonds and
shares have no registry of owners, so physical possession is
ownership. Banks should ask questions about the beneficial owners of
such entities and share this information with law enforcement.
A bearer cheque is a
cheque that can be paid out to the holder, usually without any
identification. A non-bearer cheque can be converted into bearer form
if the original payee has endorsed it.
Next Topic: Terrorist Financing
Previous Topic: Trusts
Get the Book & Pass First Time!
Includes all the study notes, the mock exam and detailed explainations of the answers