Which is true about Financial Action Task Force (FATF)-Style Regional Bodies (FSRBs)?

The correct answer is B. Tools used by FRSBs include training measures and mutual evaluations of its members. FSRBs are regional bodies that work with FATF to promote the implementation of AML and CFT standards. FSRBs are made up of member countries that have agreed to work together to combat money laundering and the financing of terrorism. The tools used by FSRBs to promote the…

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

Question

Options

AFSRBs set standards for their member countries that supplement FATF's standards.
BTools used by FRSBs include training measures and mutual evaluations of its members.
CAFATF-member country cannot also be a member of an FSRB.
DTo be a member of an FSRB, a country must have enacted AML and Anti-Terrorist Financing

How the community answered

(35 responses)

A
9% (3)
B
83% (29)
C
6% (2)
D
3% (1)

Explanation

FSRBs are regional bodies that work with FATF to promote the implementation of AML and CFT standards. FSRBs are made up of member countries that have agreed to work together to combat money laundering and the financing of terrorism. The tools used by FSRBs to promote the implementation of AML and CFT standards include training measures, mutual evaluations of its members, technical assistance, and the sharing of information. FSRBs may also adopt recommendations and best practices based on the FATF's 40 Recommendations.

Topics

#FATF#FSRBs#mutual evaluations#regional bodies

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