ACAMS
CAMS · Question #460
In accordance with Financial Action Task Force (FATF) standards, when the minimum AML requirements of the host country where a financial institution (Fl) operates are less strict than those of the…
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Compliance Standards (International AML/CFT Standards and the role of FATF)
Question
In accordance with Financial Action Task Force (FATF) standards, when the minimum AML requirements of the host country where a financial institution (Fl) operates are less strict than those of the Fl's home country, the Fl:
Options
- Ashould always apply additional measures on their branches and majority-owned subsidiaries in
- Bis required to ensure that their branches and majority-owned subsidiaries in host countries
- Cis required to impose more strict requirements on host country branches, disregarding if host
- Dshould close down its operations in the host countries where minimum AML requirements are less
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Topics
#FATF standards#host country#home country#group-wide compliance