Which principles should be included in a FATF-Style Regional Body (FSRB) update? (Choose two.)

Question

Options

• AIssue country-specific Mutual Evaluation reports
• BAddress AML/CFT technical assistance of individual members
• CIdentify jurisdictions with weak AML/CFT regimes
• DEstablish AML/CFT standards and typologies
• EProtect the reputation and standing of FATF

• A
  72% (23)
• B
  6% (2)
• D
  3% (1)
• E
  19% (6)

Explanation

According to the Anti-Money Laundering Specialist (the 6th edition) resources, FSRBs are regional organizations that help the FATF implement its global AML/CFT policy and standards in over 200 affiliated countries. FSRBs have their own high-level principles and objectives that govern their relationship with the FATF and their members. Among these principles and objectives, two that should be included in a FSRB update are: Issue country-specific Mutual Evaluation reports. This is the process by which FSRBs assess the compliance and effectiveness of their members' AML/CFT systems, based on the FATF standards and methodology. Mutual Evaluation reports provide an in-depth analysis of the strengths and weaknesses of each jurisdiction, as well as recommendations for improvement. Identify jurisdictions with weak AML/CFT regimes. This is the process by which FSRBs, in coordination with the FATF, monitor and publicly list the countries that pose a risk to the international financial system due to their strategic deficiencies in AML/CFT. This process aims to encourage and assist these jurisdictions to address their gaps and enhance their cooperation with the global network.

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