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

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…

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

Question

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

How the community answered

(21 responses)

A
76% (16)
B
5% (1)
C
5% (1)
D
14% (3)

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.

Topics

#FATF#FSRBs#mutual evaluation#regional bodies

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