CAMS · Question #858
Professions such as lawyers, accountants, and trust and company service providers (TCSPs) are sometimes referred to as "gatekeepers" because they:
The correct answer is B. are an entry point to the financial system and a first line of defense against the infiltration of illicit. Lawyers, accountants, and TCSPs are considered gatekeepers because they serve as an entry point to the financial system and act as a first line of defense in preventing illicit funds from being integrated into the legitimate economy through their services and professional…
Question
Professions such as lawyers, accountants, and trust and company service providers (TCSPs) are sometimes referred to as "gatekeepers" because they:
Options
- Aoften do not understand and are not covered by money laundering laws and regulations,
- Bare an entry point to the financial system and a first line of defense against the infiltration of illicit
- Care required under money laundering laws and regulations in all jurisdictions to stop any criminals
- Dare high-risk actors who can deliberately allow criminals to enter the legitimate economy.
How the community answered
(41 responses)- A7% (3)
- B73% (30)
- C5% (2)
- D15% (6)
Explanation
Lawyers, accountants, and TCSPs are considered gatekeepers because they serve as an entry point to the financial system and act as a first line of defense in preventing illicit funds from being integrated into the legitimate economy through their services and professional expertise.
Topics
Community Discussion
No community discussion yet for this question.