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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What is the FATF's designated transactional threshold for Financial Institutions?

USD/EUR 5,000
USD/EUR 15,000
USD/EUR 10,000
USD/EUR 20,000

The correct answer is: USD/EUR 15,000

The correct answer is associated with the Financial Action Task Force (FATF) guidelines, which establish a threshold for transaction reporting by financial institutions. The FATF has designated the threshold amount at USD/EUR 15,000. This means that any transaction exceeding this amount is subject to closer scrutiny under anti-money laundering (AML) measures. Financial institutions are required to implement appropriate due diligence measures and report suspicious transactions that meet or exceed this threshold to help detect and prevent money laundering activities. This threshold serves as a significant point for compliance efforts. Transactions below this limit, while still needing to be monitored, do not require the same level of reporting, allowing institutions to focus resources on larger transactions that carry a higher risk for illicit activities. This helps institutions balance regulatory compliance with operational efficiency, ensuring that larger potentially problematic transactions are adequately addressed.