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

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What is the FATF transactional threshold for Casinos, including Internet Casinos?

USD/EUR 1,000
USD/EUR 2,000
USD/EUR 3,000
USD/EUR 5,000

The correct answer is: USD/EUR 3,000

The correct answer is based on the Financial Action Task Force (FATF) recommendations, which establish a transactional threshold for casinos and internet casinos. According to FATF Guidance, the threshold is set at USD/EUR 3,000. This means that casinos are required to conduct customer due diligence (CDD) on transactions that meet or exceed this amount. This threshold is critical for monitoring and preventing money laundering activities, as larger transactions may indicate higher risks associated with illicit financial flows. By setting this threshold, FATF ensures that casinos exercise enhanced scrutiny for significant cash transactions, thereby fostering a more robust regime for the prevention of money laundering and terrorist financing in the gaming sector. The other options do not align with the FATF regulations for casinos; thus, they do not accurately reflect the current standards expected in the sector.