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

According to the FATF Special Recommendation on Terrorist Financing, SR One, what is required?

1. Freeze and restrict the movement of funds

2. Take immediate steps to ratify UN instruments

3. Criminalize the financing of terrorism

4. Educate the public about terrorism financing

The correct answer is: Take immediate steps to ratify UN instruments

The requirement as laid out in the FATF Special Recommendation on Terrorist Financing, SR One, is focused on the necessity to take immediate steps to ratify UN instruments related to the financing of terrorism. This is crucial because the FATF emphasizes the need for countries to align their national laws with international standards set by the United Nations, enabling them to effectively combat and prevent the financing of terrorism. By ratifying these UN instruments, countries commit to implementing measures that enhance their legal frameworks, improve cooperation among states, and ensure that terrorists and their supporters cannot easily access financial resources. It establishes a cohesive legal basis for action against entities and individuals involved in terrorist financing. This foundation is essential for a robust response to global terrorism threats, ensuring that all member countries work together efficiently and effectively. The other choices, while they address components of anti-terrorism finance efforts, do not specifically highlight the immediate obligation to ratify these critical UN instruments, which is central to SR One.