Acams CCAS Exam - Topic 3 Question 11 Discussion

Actual exam question for Acams's CCAS exam

Question #: 11
Topic #: 3

[All CCAS Questions]

The Financial Action Task Force recommends countries require virtual asset service providers to maintain all records of transactions and customer due diligence measures for a minimum of:

A6 months

B2 years

C5 years

D7 years

Show Suggested Answer

Suggested Answer: C

FATF standards specify that Virtual Asset Service Providers (VASPs) must keep records related to transactions and customer due diligence for at least 5 years after the completion of the transaction or end of the business relationship. This retention period facilitates effective AML investigations and regulatory reviews.

DFSA AML Module aligns with this timeframe, reinforcing that comprehensive record retention supports audit trails and compliance verification.

by Lucina at Mar 04, 2026, 12:16 AM

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Salina

2 days ago

I think the answer might be 5 years, but I’m not entirely sure. I remember something about record-keeping durations in a similar practice question.

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