Which statements relate to the role of financial intelligence units (FIUs) in combatting financial crime on a national and international level? (Select Three.)

Question

Options

• AFIUs can only engage in cross-border collaboration where there exists a reasonable suspicion
• BFIUs are legally empowered to use a wide range of investigative techniques, both in the public
• CFIUs use a limited range of investigative techniques.
• DFIUs have a broad range of financial information to assess suspicious activity alerts.
• EFIUs can only command data and information requests from public sector entities.
• FFIUs are able to cooperate both with foreign counterparts and national institutions.

• A
  13% (5)
• B
  73% (29)
• C
  10% (4)
• E
  5% (2)

Explanation

According to the ACAMS CAMS Study Guide (the 6th edition), FIUs are central agencies that receive, analyze, and disseminate financial intelligence to support the detection and prevention of money laundering, terrorist financing, and other financial crimes. FIUs have different legal powers and functions depending on their type and jurisdiction, but generally they can use various investigative techniques, such as requesting additional information from reporting entities, accessing databases, conducting analysis, and issuing guidance. FIUs also have access to a wide range of financial information, such as suspicious activity reports, currency transaction reports, cross-border cash declarations, and other relevant data sources, to identify and assess potential illicit activities. Moreover, FIUs can cooperate and exchange information with domestic and foreign counterparts, subject to certain legal and operational safeguards, to facilitate cross- border investigations and prosecutions of financial crimes.

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