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Acams CAMS Exam - Topic 4 Question 82 Discussion

Which of the below statements are supported by the Financial Action Task Force (FATF) 40 Recommendations adopted in 2012? (Select Two.)
B) Nations should work towards implementing targeted financial sanctions in alignment with the UN Security Council. and C) Nations should establish frameworks that take a risk-based approach to prevent and mitigate money laundering and terrorist financing.
A) Regulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.
D) Governments must work toward developing identical administrative and operational frameworks for investigating and prosecuting crime.
E) Nations should take measures to ensure there is transparency to the beneficial ownership of legal persons.

Acams CAMS Exam - 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.)

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Suggested Answer: B, C

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

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Lisbeth
7 months ago
Totally agree with A and C, they really emphasize risk management!
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Mattie
7 months ago
Wait, are we sure about D? That sounds too strict.
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Candra
7 months ago
E seems super important for transparency.
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Lenna
7 months ago
I thought B was a key point too!
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Dahlia
7 months ago
A and C are definitely in there.
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Celestina
8 months ago
I’m a bit confused about option A; I thought FATF focused more on risk management rather than directing banks to avoid certain customers.
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Rene
8 months ago
I remember something about transparency in ownership, so option E might be one of the correct answers.
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Myra
8 months ago
I'm not entirely sure, but I feel like option C aligns with the risk-based approach we practiced in class.
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Twana
8 months ago
I think option B sounds familiar because we discussed how FATF emphasizes cooperation with the UN on sanctions.
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Nichelle
8 months ago
I feel pretty good about this. The FATF is all about setting global standards to combat financial crimes, so I think I can identify the two correct statements from the options provided. Time to put my knowledge to the test.
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Dallas
8 months ago
This is a tricky one. I know the FATF is focused on anti-money laundering and counter-terrorist financing, but I'm not totally sure which specific recommendations are covered here. I'll have to make an educated guess.
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Rosio
8 months ago
Okay, let's see here. I remember the FATF emphasizes a risk-based approach and transparency around beneficial ownership, so I'll definitely select those. The other options seem a bit more ambiguous, so I'll have to think carefully.
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Orville
8 months ago
Hmm, I'm a bit unsure about this one. The FATF recommendations cover a lot of ground, so I'll need to carefully read through each option to determine which two are supported.
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Ronnie
8 months ago
This looks like a straightforward question on the FATF recommendations. I'm pretty confident I can identify the two correct statements.
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Michell
9 months ago
I thought it was supposed to add the resolved property to all instances, but now I'm second-guessing if it only applies to the specific object ticket1.
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Vincenza
1 year 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
1 year ago
Haha, I can only imagine the jokes they must hear during those exams!
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Chauncey
1 year 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
1 year ago
A) Regulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.
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Mozell
1 year 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 year 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 year ago
D is definitely not correct. The FATF recommendations don't require identical frameworks across nations, just effective ones.
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Jesusita
1 year ago
E) Nations should take measures to ensure there is transparency to the beneficial ownership of legal persons.
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Lemuel
1 year 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
1 year ago
A) Regulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.
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Hassie
1 year 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
1 year ago
B) Nations should work towards implementing targeted financial sanctions in alignment with the UN Security Council.
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Kate
1 year ago
I agree, C is definitely one of the supported statements. It's all about managing risks effectively.
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Nell
1 year 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
1 year ago
A) Regulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.
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Levi
1 year 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
1 year 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
1 year ago
Definitely, it helps in preventing and mitigating money laundering and terrorist financing.
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Hoa
1 year ago
That makes sense. It's important for nations to work towards implementing these measures.
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Franchesca
1 year ago
Yes, the FATF recommendations do emphasize the need for targeted financial sanctions and transparency around beneficial ownership.
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Shaun
1 year ago
I think options B and E are the correct answers.
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Tambra
1 year ago
I agree with you, Levi. I also believe statement E is supported by the FATF recommendations.
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Levi
1 year ago
I think statement C is definitely supported by the FATF 40 Recommendations.
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