CAMS · Question #49
What do Financial Action Task Force (FATF)-style regional bodies do for their members to help combat money laundering and terrorist financing?
The correct answer is A. They provide technical assistance to members in implementing FATF recommendations. The following high-level principles apply for both FATF and FSRBs.?Role: FSRBs play an essential role in identifying and addressing AML/CFT technical assistance needs for their individual members. In those FSRBs that carry out this coordination work, technical assistance…
Question
What do Financial Action Task Force (FATF)-style regional bodies do for their members to help combat money laundering and terrorist financing?
Options
- AThey provide technical assistance to members in implementing FATF recommendations
- BThey assist member countries in penalizing entities that violate FATF standards and
- CThey work with members on areas of concern outside of anti-money laundering and terrorist
- DThey supervise member country financial institutions relating to anti-money laundering and
How the community answered
(28 responses)- A71% (20)
- B4% (1)
- C7% (2)
- D18% (5)
Explanation
The following high-level principles apply for both FATF and FSRBs.?Role: FSRBs play an essential role in identifying and addressing AML/CFT technical assistance needs for their individual members. In those FSRBs that carry out this coordination work, technical assistance necessarily complements mutual evaluation and follow-up processes by helping jurisdictions to implement FATF standards.
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