CAMS Question #500: Real Exam Question with Answer & Explanation

The correct answer is A. Promoting the record keeping obligations of banks to the maximum amount of data necessary for C. Extending AML rules to entities that provide virtual currency services. Promoting the record-keeping obligations of banks to the maximum amount of data necessary for the purposes of AML investigations: "The Fifth AML Directive emphasizes that record-keeping obligations of banks must extend to the maximum amount of data necessary for the purposes of a

Question

Which are the requirements of the Filth AML Directive of the EU? {Select Two.)

Options

APromoting the record keeping obligations of banks to the maximum amount of data necessary for
BBroadening the criteria for assessing high-risk third countries
CExtending AML rules to entities that provide virtual currency services
DDeveloping a variant approach m the strategy for the treatment of organized crime and terrorism
EProviding information access to financial intelligence units according to the differences in the

Explanation

Promoting the record-keeping obligations of banks to the maximum amount of data necessary for the purposes of AML investigations: "The Fifth AML Directive emphasizes that record-keeping obligations of banks must extend to the maximum amount of data necessary for the purposes of anti-money laundering investigations" Extending AML rules to entities that provide virtual currency services: "The 5AMLD expands the scope of the EU's anti-money laundering rules to include virtual currency exchange platforms and custodian wallet providers"

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