Which response represents a high-level principle for FATF-Style Regional Bodies (FSRB)?

The correct answer is D. Reciprocity for effective participation and recognition of work. Reciprocity is one of the high-level principles that govern the relationship between the FATF and the FSRBs. It means that both the FATF and the FSRBs should respect and acknowledge each other's work, such as standard setting, mutual evaluations, and follow-up processes. Reciproc

Compliance Standards (International AML/CFT Standards and the role of FATF)

Question

Options

AMembership, mission, financial procedures, and budget
BDependent with different experiences to strengthen the overall effort
CAccess to documents and assistance with meetings
DReciprocity for effective participation and recognition of work

How the community answered

(25 responses)

A
12% (3)
B
4% (1)
C
4% (1)
D
80% (20)

Explanation

Reciprocity is one of the high-level principles that govern the relationship between the FATF and the FSRBs. It means that both the FATF and the FSRBs should respect and acknowledge each other's work, such as standard setting, mutual evaluations, and follow-up processes. Reciprocity also implies that the FATF and the FSRBs should have similar mechanisms or practices for ensuring effective participation of their members in their activities. and Objectives for FATF and FATF-style regional bodies" published by the FATF in February 2019. You can access it by clicking here. You can also find more information about the FSRBs and their roles on the FATF website and the Sygna blog.

Topics

#FSRB high-level principles#FATF-style regional bodies#reciprocity#international cooperation

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