CAMS 6 STUDY QUESTIONS: INTERNATIONAL AML/CFT STANDARDS
FINANCIAL ACTION TASK FORCE (FATF) WITH ALL CORRECT & 100%
VERIFIED ANSWERS
1. Financial
in 1989
Action Task
when the Group of Seven nations launched the Financial Action Task
Force (FATF) Force (FATF) at its
annual economic summit in Paris. With France serving as its first
chair, this multinational
group started working toward a coordinated ettort against
international money laundering.
2. FATF Objectives "set standards and promote ettective implementation of legal,
regulatory
and operational measures for combatting money laundering, terrorist
financing and other
related threats to the integrity for the international financial system.
laundering and terroist financing techniques and counter-
measures;
3. Starting with
its own 6. Effectiveness As- sessment:
members
4. FATF focuses
on the
following:
5. Technical
Compli- ance
Assessment
1/
13
, CAMS 6 STUDY QUESTIONS: INTERNATIONAL AML/CFT STANDARDS
FINANCIAL ACTION TASK FORCE (FATF) WITH ALL CORRECT & 100%
VERIFIED ANSWERS
FATF monitors countries' identifies the extent to which a member achieves a defined
progress in implementing set of outcomes that are central to a robust AML/CFT system. The focus
the FATF is on the
Recommendations; reviews
money and promotes the
adoption and
implementation of the FATF
Recommendations
globally.
Technical Compliance
Assessment and
Ettectiveness Assessment:
Evaluates the specific
requirements of the FATF
Recommendations,
including how a member
relates them to its relevant
legal and institutional
framework, and the powers
and procedures of its
competent authorities. The
focus
is on the fundamental
building blocks of an
AML/CFT system.
Seeks to assess the
adequacy of a members
implementation of
the FATF
Recommendations, and
2/
13
FINANCIAL ACTION TASK FORCE (FATF) WITH ALL CORRECT & 100%
VERIFIED ANSWERS
1. Financial
in 1989
Action Task
when the Group of Seven nations launched the Financial Action Task
Force (FATF) Force (FATF) at its
annual economic summit in Paris. With France serving as its first
chair, this multinational
group started working toward a coordinated ettort against
international money laundering.
2. FATF Objectives "set standards and promote ettective implementation of legal,
regulatory
and operational measures for combatting money laundering, terrorist
financing and other
related threats to the integrity for the international financial system.
laundering and terroist financing techniques and counter-
measures;
3. Starting with
its own 6. Effectiveness As- sessment:
members
4. FATF focuses
on the
following:
5. Technical
Compli- ance
Assessment
1/
13
, CAMS 6 STUDY QUESTIONS: INTERNATIONAL AML/CFT STANDARDS
FINANCIAL ACTION TASK FORCE (FATF) WITH ALL CORRECT & 100%
VERIFIED ANSWERS
FATF monitors countries' identifies the extent to which a member achieves a defined
progress in implementing set of outcomes that are central to a robust AML/CFT system. The focus
the FATF is on the
Recommendations; reviews
money and promotes the
adoption and
implementation of the FATF
Recommendations
globally.
Technical Compliance
Assessment and
Ettectiveness Assessment:
Evaluates the specific
requirements of the FATF
Recommendations,
including how a member
relates them to its relevant
legal and institutional
framework, and the powers
and procedures of its
competent authorities. The
focus
is on the fundamental
building blocks of an
AML/CFT system.
Seeks to assess the
adequacy of a members
implementation of
the FATF
Recommendations, and
2/
13
