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

GAFISUD was established to combat issues related to what?

1. Financial Fraud

2. Economic Inequality

3. Money Laundering

4. Privacy Violations

The correct answer is: Money Laundering

GAFISUD, which stands for the Group of Action against Money Laundering in South America, was specifically established to address the growing concern of money laundering in the region. Its primary goal is to develop strategies and foster collaboration among member countries to combat this financial crime effectively. Money laundering poses significant risks to economies, financial systems, and overall governance, which GAFISUD aims to mitigate through various initiatives, including strengthening legal frameworks and enhancing international cooperation. The other options focus on different issues that, while important, do not align with GAFISUD's specific objectives. Financial fraud, for example, encompasses a range of fraudulent activities but is distinct from money laundering processes. Economic inequality addresses disparities in wealth distribution, which is a broader socio-economic issue not tied directly to the money laundering focus of GAFISUD. Privacy violations pertain to concerns regarding data protection and individual rights, which also fall outside the scope of GAFISUD's main mission. Therefore, C is the correct answer as it directly aligns with the organization's aim of combating money laundering.