How does the Financial Acton Task Force (FATF) communicate its findings regarding jurisdictions with strategic anti-money laundering / Counter Financing of Terrorism deficiencies?

Question

Options

• ABy issuing documentation to the private sector
• BBy issuing two formal documents three times per year
• CBy issuing informal communication to FATF members
• DBy issuing four formal documents to the deficient jurisdictions

• A
  4% (2)
• B
  73% (37)
• C
  10% (5)
• D
  14% (7)

Explanation

The FATF communicates its findings regarding jurisdictions with strategic AML/CFT deficiencies by issuing two formal documents three times per year, namely the FATF Public Statement and the Improving Global AML/CFT Compliance: On-going Process document. These documents identify the jurisdictions that have serious and/or systemic deficiencies in their AML/CFT regimes and the progress they have made in addressing them. The FATF also calls on its members and other jurisdictions to apply counter-measures or enhanced due diligence measures to protect the international financial system from the risks emanating from these jurisdictions.

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