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

What is the official name for the 'blacklist' issued by the Financial Action Task Force?

1. Countries of Concern List

2. Non-Cooperative Countries and Terrorists (NCCT) list

3. At Risk Nations Report

4. Restricted Entities Index

The correct answer is: Non-Cooperative Countries and Terrorists (NCCT) list

The official name for the 'blacklist' issued by the Financial Action Task Force (FATF) is the Non-Cooperative Countries and Terrorists (NCCT) list. This list identifies jurisdictions that are deemed to have strategic deficiencies in their anti-money laundering (AML) and combating the financing of terrorism (CFT) frameworks. Inclusion in the NCCT list highlights the need for enhanced scrutiny and cooperation to address the lapses and to encourage these jurisdictions to improve their regulatory frameworks. The FATF uses this list as a tool to promote international standards of financial integrity and to foster global collaboration in the fight against money laundering and terrorist financing. By naming and shaming these jurisdictions, the FATF aims to drive reforms and prevent the flow of illicit funds through non-compliant nations. The other options, while they might sound plausible, are not the official names associated with FATF's lists. The "Countries of Concern List" and "At Risk Nations Report" do not accurately capture the specific naming convention that the FATF employs, and the "Restricted Entities Index" is not a recognized FATF publication in the context of AML/CFT efforts. Thus, the NCCT list remains the correct term used by the FATF.