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

Which group focuses on anti-money laundering initiatives in Eastern and Southern Africa?

1. ESAAMLG

2. FATF

3. EBA

4. OCDE

The correct answer is: ESAAMLG

The correct choice highlights the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), which is an organization specifically established to promote anti-money laundering (AML) initiatives across the Eastern and Southern African regions. ESAAMLG's primary focus is to address money laundering and terrorist financing issues within its member countries, ensuring they comply with international AML standards. ESAAMLG brings together countries to enhance their capacity to combat money laundering and works on improving the legal and regulatory frameworks in the region. This collaboration is significant as it helps member countries share information, develop best practices, and strengthen their AML controls to effectively tackle financial crimes. The other options serve different functions or operate in broader areas. For instance, the Financial Action Task Force (FATF) is an intergovernmental body that addresses money laundering on a global scale but does not concentrate exclusively on Eastern and Southern Africa. The European Banking Authority (EBA) mainly focuses on the banking sector regulation within the EU and is not dedicated to AML initiatives in the specified regions. Similarly, the Organisation for Economic Co-operation and Development (OECD) encompasses various regional economic issues, but its scope does not center on anti-money laundering efforts specific to Eastern and Southern Africa.