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

3 months 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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Thaddeus

1 months ago

Clemencia: Agreed, it strengthens the overall effectiveness of the FATF Regional Style Bodies.

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Ettie

1 months ago

User 3: Regional co-operation between member countries is also important for sharing information and resources.

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Clemencia

2 months ago

User 2: Definitely, it helps ensure that all member countries are held to the same standards.

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Naomi

2 months 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

3 months 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

2 months ago

Definitely, working together can help strengthen our efforts against money laundering and terrorist financing.

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Flo

2 months ago

I agree, regional cooperation is key in fighting financial crimes.

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Genevive

3 months 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

3 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

2 months ago

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

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Ariel

2 months ago

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

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Lisbeth

3 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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