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Acams Exam CAMS-FCI Topic 1 Question 9 Discussion

Actual exam question for Acams's CAMS-FCI exam
Question #: 9
Topic #: 1
[All CAMS-FCI Questions]

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

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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.


Contribute your Thoughts:

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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Karol
25 days ago
I'm torn between B) and C), but I'll go with C) since regional cooperation is essential for combating money laundering and terrorist financing. Can't go wrong with teamwork!
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Rusty
8 days ago
Definitely, working together can help strengthen our efforts against money laundering and terrorist financing.
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Flo
12 days ago
I agree, regional cooperation is key in fighting financial crimes.
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Genevive
30 days ago
This exam question is a bit tricky, but I think D) Enabling FATF standards to be specific to each region is the way to go. One-size-fits-all doesn't work in this complex domain.
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Phillip
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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Lisbeth
1 months ago
C) Emphasizing regional co-operation between member countries seems like the correct answer. Coordinating efforts across regions is key to combating these global issues.
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Lashaunda
15 days ago
C) Emphasizing regional co-operation between member countries
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Sherrell
25 days ago
B) Implementing regional mutual evaluation procedures
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Kimberlie
1 months ago
A) Instructing each member country to place FATF recommendations into law
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Hayley
1 months ago
But isn't instructing each member country to place FATF recommendations into law also important for effective implementation?
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Arlie
1 months ago
I agree with Markus, regional co-operation is crucial in combatting money laundering and terrorist financing.
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Markus
2 months ago
I think the key characteristic is emphasizing regional co-operation between member countries.
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