CAMS · Question #759
CAMS Question #759: Real Exam Question with Answer & Explanation
The correct answer is B. Nations should work towards implementing targeted financial sanctions in alignment with the UN C. Nations should establish frameworks that take a risk-based approach to prevent and mitigate E. Nations should take measures to ensure there is transparency to the beneficial ownership of legal. The FATF 40 Recommendations outline global AML/CFT standards, including risk-based compliance and beneficial ownership transparency. Option B (Correct): FATF requires nations to implement financial sanctions in coordination with the UN Security Council. Option C (Correct): FATF e
Question
Options
- ARegulators should direct Financial Institutions to establish appropriate frameworks to avoid
- BNations should work towards implementing targeted financial sanctions in alignment with the UN
- CNations should establish frameworks that take a risk-based approach to prevent and mitigate
- DGovernments must work toward developing identical administrative and operational frameworks
- ENations should take measures to ensure there is transparency to the beneficial ownership of legal
Explanation
The FATF 40 Recommendations outline global AML/CFT standards, including risk-based compliance and beneficial ownership transparency. Option B (Correct): FATF requires nations to implement financial sanctions in coordination with the UN Security Council. Option C (Correct): FATF emphasizes a risk-based approach (RBA) to prevent ML/TF. Option E (Correct): FATF mandates transparency in beneficial ownership to prevent shell
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