Which of the following describes a role of the Financial Action Task Force (FATF)?

The correct answer is D. Enhancement of international cooperation to foster anti-money laundering efforts via. The FATF's core role is to enhance international cooperation against money laundering and terrorist financing through setting global standards ("Recommendations") and issuing guidance. "The FATF is an intergovernmental body whose purpose is the development and promotion of…

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

Question

Options

AOversight of the Financial Intelligence Units in FATF Member countries
BProviding a unique platform for information exchange regarding anti-money laundering efforts
CRegulation of financial markets through directives and executive orders
DEnhancement of international cooperation to foster anti-money laundering efforts via

How the community answered

(56 responses)

A
5% (3)
B
7% (4)
C
16% (9)
D
71% (40)

Explanation

The FATF's core role is to enhance international cooperation against money laundering and terrorist financing through setting global standards ("Recommendations") and issuing guidance. "The FATF is an intergovernmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing." The FATF does not have authority to oversee FIUs, nor does it regulate financial markets directly.

Topics

#FATF role#international cooperation#AML standards#information exchange

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