Certified Anti-Money Laundering Specialist Certification (CAMS) Practice Exam

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Prepare for the Certified Anti-Money Laundering Specialist Certification (CAMS) exam. Study with multiple choice questions, each with hints and explanations. Boost your chances of success!

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According to FATF Recommendation 27, what should countries do regarding law enforcement?

Limit their roles in financial monitoring.
Designate authorities with AML responsibilities.
Outsource all AML duties to private firms.
Focus strictly on domestic crimes.

The correct answer is: Designate authorities with AML responsibilities.

FATF Recommendation 27 emphasizes the importance of countries designating specific authorities with clear responsibilities concerning anti-money laundering (AML) efforts. This recommendation underscores the need for comprehensive and coordinated action in the enforcement of AML regulations. By highlighting the significance of appointing designated authorities, the recommendation encourages nations to develop a structured approach that promotes effective monitoring, investigation, and prosecution of money laundering activities. This enables law enforcement agencies to effectively carry out their roles in combating financial crimes, ensuring that they have the appropriate resources, training, and authority to execute their responsibilities proficiently. This structured designation of authorities aids in creating an organized framework for law enforcement that is critical for effective international cooperation and the sharing of vital intelligence related to money laundering. The establishment of designated authorities also facilitates clearer accountability and enhances the overall efficacy of AML strategies within the country.