Acams Exam CAMS Topic 4 Question 82 Discussion

Actual exam question for Acams's CAMS exam

Question #: 82
Topic #: 4

[All CAMS Questions]

Which of the below statements are supported by the Financial Action Task Force (FATF) 40 Recommendations adopted in 2012? (Select Two.)

ARegulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.

BNations should work towards implementing targeted financial sanctions in alignment with the UN Security Council.

CNations should establish frameworks that take a risk-based approach to prevent and mitigate money laundering and terrorist financing.

DGovernments must work toward developing identical administrative and operational frameworks for investigating and prosecuting crime.

ENations should take measures to ensure there is transparency to the beneficial ownership of legal persons.

Show Suggested Answer

Suggested Answer: B, C

by Dorothy at Aug 27, 2024, 09:16 AM

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Vincenza

1 months ago

I bet the FATF compliance examiners have a field day with all the puns about dirty money and clean audits.

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Benedict

4 days ago

Haha, I can only imagine the jokes they must hear during those exams!

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Chauncey

6 days ago

C) Nations should establish frameworks that take a risk-based approach to prevent and mitigate money laundering and terrorist financing.

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Myra

9 days ago

A) Regulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.

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Mozell

1 months ago

Hmm, I wonder if the FATF has a sense of humor. Maybe they could add a recommendation about not letting your money launder itself.

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Jennifer

1 months ago

A sounds a bit too prescriptive. The FATF leaves it up to the FIs to establish their own risk management frameworks.

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Charolette

1 months ago

D is definitely not correct. The FATF recommendations don't require identical frameworks across nations, just effective ones.

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Jesusita

9 days ago

E) Nations should take measures to ensure there is transparency to the beneficial ownership of legal persons.

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Lemuel

11 days ago

C) Nations should establish frameworks that take a risk-based approach to prevent and mitigate money laundering and terrorist financing.

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Stevie

15 days ago

A) Regulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.

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Hassie

2 months ago

I'm pretty sure C is also one of the supported statements. The FATF framework is all about taking a risk-based approach to AML/CFT.

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Corinne

16 days ago

B) Nations should work towards implementing targeted financial sanctions in alignment with the UN Security Council.

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Kate

1 months ago

I agree, C is definitely one of the supported statements. It's all about managing risks effectively.

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Nell

2 months ago

C) Nations should establish frameworks that take a risk-based approach to prevent and mitigate money laundering and terrorist financing.

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Ricarda

2 months ago

A) Regulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.

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Levi

2 months ago

Yes, ensuring transparency to the beneficial ownership of legal persons is crucial in combating money laundering and terrorist financing.

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Corinne

2 months ago

Options B and E seem to be the correct answers here. The FATF recommendations do emphasize the need for targeted financial sanctions and transparency around beneficial ownership.

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Laila

21 days ago

Definitely, it helps in preventing and mitigating money laundering and terrorist financing.

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Hoa

26 days ago

That makes sense. It's important for nations to work towards implementing these measures.

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Franchesca

1 months ago

Yes, the FATF recommendations do emphasize the need for targeted financial sanctions and transparency around beneficial ownership.

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Shaun

2 months ago

I think options B and E are the correct answers.

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Tambra

2 months ago

I agree with you, Levi. I also believe statement E is supported by the FATF recommendations.

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Levi

3 months ago

I think statement C is definitely supported by the FATF 40 Recommendations.

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