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Acams CCAS Exam - Topic 2 Question 19 Discussion

Which operational risk mitigation practice by virtual asset service providers (VASPs) is most effective when considering their relationships with other VASPs?
D) Gathering sufficient information on the counterpart VASP to determine the quality of the supervision it receives for transactional activities
A) Having no requirement to establish a correspondent relationship and build a risk assessment framework among other cryptoasset exchanges prior to transferring for or on behalf of another person
B) Developing cross-border correspondent relationships with cryptoasset exchanges in jurisdictions that have weak or non-existent anti-money laundering (AML) regulation or supervision
C) Assigning all such relationships as high risk and conducting enhanced due diligence on all of them

Acams CCAS Exam - Topic 2 Question 19 Discussion

Actual exam question for Acams's CCAS exam
Question #: 19
Topic #: 2
[All CCAS Questions]

Which operational risk mitigation practice by virtual asset service providers (VASPs) is most effective when considering their relationships with other VASPs?

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Suggested Answer: D

Effective risk mitigation requires VASPs to obtain sufficient information about counterpart VASPs to assess the quality of their regulatory supervision and controls. This helps determine the risk of transactions and build a risk-based framework for correspondent relationships.

Having no requirements (A) or engaging with poorly regulated jurisdictions (B) increases risk. Blanket high-risk classification (C) without proper assessment is inefficient.

FATF Recommendation 15 and DFSA guidance emphasize due diligence on counterparties as a critical control.


by Harley at Jul 18, 2026, 09:32 PM

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Deonna
6 days ago
Option B could lead to trouble. Weak AML means higher risk for everyone.
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Margarita
11 days ago
I agree, but option C seems safer. High risk means more caution.
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Marg
17 days ago
I think option D is the best. Knowing the counterpart's supervision is crucial.
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Sabine
22 days ago
Gathering info on counterpart VASPs is definitely key, I’m with D!
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Christiane
27 days ago
Wait, are we really trusting VASPs with weak AML?
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Doyle
1 month ago
A is just asking for trouble, no way that's effective.
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Daniela
1 month ago
I disagree, C is way too cautious.
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Jamal
1 month ago
D seems like the safest bet for VASPs.
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Pura
2 months ago
I’m uncertain about the effectiveness of cross-border relationships in option B, especially with weak AML regulations. It seems risky!
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Gilberto
2 months ago
I feel like we went over a similar question where gathering information on counterparties was emphasized, so I might lean towards D.
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Stacey
2 months ago
I think option C makes sense because treating all relationships as high risk could help mitigate potential issues, but it seems a bit extreme.
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Margarita
2 months ago
I remember we discussed the importance of due diligence in our last study group, but I'm not sure if option D is the best choice here.
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