CAMS Question #290: Real Exam Question with Answer & Explanation

The correct answer is A. Support the system of mutual evaluation. one of the key roles of FATF-Style Regional Bodies (FSRBs) is to support the system of mutual evaluation, which is a peer review process that assesses the level of compliance and effectiveness of each member country's anti-money laundering and counter-terrorism financing (AML/CFT

Question

Which is a key role of FATF-Style Regional Bodies (FSRBs)?

Options

ASupport the system of mutual evaluation
BSetting regional standards for combatting money laundering
CBring additional terrorist financing laws into action in the region
DEnforce the specific FATF laws in the region

Explanation

one of the key roles of FATF-Style Regional Bodies (FSRBs) is to support the system of mutual evaluation, which is a peer review process that assesses the level of compliance and effectiveness of each member country's anti-money laundering and counter-terrorism financing (AML/CFT) regime. FSRBs conduct mutual evaluations in accordance with the FATF's methodology and standards, and share the results and recommendations with the FATF and other FSRBs. Mutual evaluations help identify the strengths and weaknesses of each country's AML/CFT system, and provide a basis for technical assistance and follow-up actions.

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