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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.)

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Suggested Answer: B, C

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

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Vincenza
3 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
2 months ago
Haha, I can only imagine the jokes they must hear during those exams!
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Chauncey
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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Myra
2 months ago
A) Regulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.
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Mozell
3 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
3 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
3 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
2 months ago
E) Nations should take measures to ensure there is transparency to the beneficial ownership of legal persons.
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Lemuel
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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Stevie
2 months ago
A) Regulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.
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Hassie
4 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
2 months ago
B) Nations should work towards implementing targeted financial sanctions in alignment with the UN Security Council.
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Kate
3 months ago
I agree, C is definitely one of the supported statements. It's all about managing risks effectively.
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Nell
3 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
3 months ago
A) Regulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.
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Levi
4 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
4 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
2 months ago
Definitely, it helps in preventing and mitigating money laundering and terrorist financing.
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Hoa
3 months ago
That makes sense. It's important for nations to work towards implementing these measures.
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Franchesca
3 months ago
Yes, the FATF recommendations do emphasize the need for targeted financial sanctions and transparency around beneficial ownership.
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Shaun
3 months ago
I think options B and E are the correct answers.
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Tambra
4 months ago
I agree with you, Levi. I also believe statement E is supported by the FATF recommendations.
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Levi
4 months ago
I think statement C is definitely supported by the FATF 40 Recommendations.
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