Acams Exam CAMS-FCI Topic 1 Question 9 Discussion

Actual exam question for Acams's CAMS-FCI exam

Question #: 9
Topic #: 1

Which is a key characteristic of the Financial Action Task Force (FATF) Regional Style Bodies for combatting money laundering/terrorist financing?

AInstructing each member country to place FATF recommendations into law

BImplementing regional mutual evaluation procedures

CEmphasizing regional co-operation between member countries

DEnabling FATF standards to be specific to each region

Show Suggested Answer

Suggested Answer: B

According to the CAMS study guide, the Financial Action Task Force (FATF) Regional Style Bodies are organizations created by the FATF to promote the implementation of anti-money laundering and countering the financing of terrorism (AML/CFT) measures in specific regions. One of the key characteristics of these bodies is the implementation of regional mutual evaluation procedures.

Regional mutual evaluations involve member countries evaluating each other's AML/CFT regimes to identify strengths and weaknesses and to develop best practices for improvement. This process allows for greater cooperation between countries and can help to identify and address regional AML/CFT risks more effectively. It also promotes consistency in AML/CFT standards and practices within the region.

by Cammy at Jan 12, 2025, 07:14 AM

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Reid

20 days ago

Hmm, this is a tough one. I'm going to have to go with B) Implementing regional mutual evaluation procedures. Gotta keep those FATF standards tight, ya know?

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Naomi

2 days ago

User 1: I think B) Implementing regional mutual evaluation procedures is crucial for effective combatting of money laundering/terrorist financing.

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1 months ago

B) Implementing regional mutual evaluation procedures makes the most sense to me. Ensuring consistent standards across the region is crucial.

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Ariel

13 days ago

Regional cooperation is key in addressing these issues effectively. It's important for member countries to work together.

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Ariel

14 days ago

I agree, having regional mutual evaluation procedures helps maintain consistency in combating money laundering and terrorist financing.

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2 months ago

I think the key characteristic is emphasizing regional co-operation between member countries.

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