Which of the below is a core function of a financial intelligence unit (FIU) as described in FATF Recommendation 29?

The correct answer is D. Serving as a national center for the collection and analysis of suspicious activity. FATF Recommendation 29 states that an FIU should serve as a national center for the receipt and analysis of suspicious transaction reports and other information relevant to money laundering and terrorist financing. "The FIU should serve as a national center for the receipt and…

Compliance Standards (International AML/CFT Standards and the role of FATF)

Question

Options

ASponsoring the research and development of advanced technological surveillance tools to be
BProsecuting significant cases of money laundering or terrorist financing falling under national
CSharing real-time criminal intelligence gathered from national law enforcement agencies with the
DServing as a national center for the collection and analysis of suspicious activity

How the community answered

(42 responses)

A
14% (6)
B
7% (3)
C
2% (1)
D
76% (32)

Explanation

FATF Recommendation 29 states that an FIU should serve as a national center for the receipt and analysis of suspicious transaction reports and other information relevant to money laundering and terrorist financing. "The FIU should serve as a national center for the receipt and analysis of suspicious transaction reports (STRs) and other information relevant to ML/TF, and for the dissemination of the results of that analysis."

Topics

#financial intelligence unit#FATF Recommendation 29#suspicious activity reporting#national center

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