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

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Which organization is the Financial Transactions and Reporting Analysis Centre of Canada commonly abbreviated to?

FINTRAC
FIA
FSC
FII

The correct answer is: FINTRAC

The Financial Transactions and Reporting Analysis Centre of Canada is commonly referred to as FINTRAC. This agency is Canada's national financial intelligence unit, responsible for the collection, analysis, and sharing of financial information to combat money laundering and terrorist financing. As a key player in Canada's efforts to uphold anti-money laundering (AML) and anti-terrorist financing (ATF) legislation, FINTRAC plays a crucial role in enhancing the transparency of financial transactions and preventing criminal activities. The other organizations listed – FIA, FSC, and FII – represent different entities that either do not exist under those acronyms in the context of Canadian financial intelligence or have different functions unrelated to AML. Understanding the correct designation of FINTRAC is essential for anyone studying or working in the field of anti-money laundering, as it highlights the specific agency coordinating Canada’s financial monitoring and enforcement efforts.