ACAMS
CAMS · Question #542
According to the Financial Action Task Force 40 Recommendations, to fulfill identification requirements concerning legal entities, financial institutions should take measures to verify
Sign in or unlock CAMS to reveal the answer and full explanation for question #542. The question stem and answer options stay visible for context.
Compliance Standards (International AML/CFT Standards and the role of FATF)
Question
According to the Financial Action Task Force 40 Recommendations, to fulfill identification requirements concerning legal entities, financial institutions should take measures to verify
Options
- Athe financial status of the legal entity through documented proof of the entity's other banking
- Ba person purporting to act on behalf of the legal entity who is a resident in a country with strict
- Cthe legal existence and ownership structure of the legal entity.
- Dfunds or trusts maintained by terrorists.
Unlock CAMS to see the answer
You've previewed enough free CAMS questions. Unlock CAMS for full answers, explanations, the timed quiz mode, progress tracking, and the master PDF. Question stem and options stay visible so you can still see what's on the exam.
Topics
#FATF 40 Recommendations#legal entity identification#beneficial ownership#CDD