What does it mean when a transaction is said to be "disguised"?

When a transaction is described as "disguised," it refers to the practice of presenting it in a manner that appears legitimate in order to obscure its true, often illegal, nature. This tactic is often used to deceive financial institutions or regulators by masking the illicit intent behind the transaction.

Typically, those who engage in disguised transactions will utilize various methods to misrepresent the details so that they align with legitimate activities, thereby reducing suspicion. For example, structured payments might be made to appear as lawful business transactions, or the use of false invoices might be employed to legitimize what are essentially fraudulent activities.

In contrast, viewing the other choices reveals their focus on aspects of concealment or illegitimacy that don't capture the essence of how a transaction can be rendered to look authentic. Disguised transactions specifically hinge on the act of presenting illegitimate actions as legitimate, making option A the most accurate representation of this concept.