The FATF Regional Style Bodies (FSRBs) are autonomous regional organizations that help the FATFimplement its global AML/CFT policy, which revolves around its 40 Recommendations, in over 200 affiliated countries1. One of the key characteristics of the FSRBs is that they emphasize regional co-operation between member countries, as stated in the High-Level Principles and Objectives approved by the FATF Plenary in October 20122. This means that the FSRBs facilitate information exchange, technical assistance, training, and mutual support among their members to enhance their AML/CFT capacities and compliance. The FSRBs also promote regional perspectives and specificities in the FATF policy-making process and foster dialogue and collaboration with other regional and international bodies2.
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1: What are the 9 FATF-Style Regional Bodies (FSRBs)? - Sygna
2: FATF-Style Regional Bodies (FSRBs) - Asia/Pacific Group on Money Laundering

A robust AML training program should incorporate the followingbest practicesto ensure awareness and ongoing engagement:
Option A - Tailored and regular training:
Training should berisk-based and role-specific, ensuring employees understand how AML applies to their function.
Option D - Variety and resources:
Use ofinteractive, digital, live, and scenario-based methodskeeps training effective and adaptable.
Providing materials and resources supports continued learning.
Option E - Communication and measurement:
Ongoing AML awareness campaigns andfeedback mechanismshelp assess theeffectivenessof training and reinforce its importance.
Option Bis too vague and not recognized as a best practice.
Option C, while helpful, isnot sufficient alone-annual frequency without contextual or tailored content is inadequate.
Reference: ACAMS CAMS Study Guide - 6th Edition, Chapter:AML Program Components- Section:
Training and Awareness Best Practices

In anEnterprise-Wide Risk Assessment (EWRA),residual riskis the level of risk that remains after applying mitigating controls to theinherent risk(the risk present before controls are applied).
In this scenario, theinherent risk is highdue to the nature of private banking-high net worth clients,cross- border transactions,complex ownership structures, andhigh-value financial products. However, the institution has implementedrobust CDD and EDD, as well asadvanced transaction monitoring systems.
According to the CAMS Study Guide - 6th Edition, wheneffective and properly implemented controls are in place, they cansignificantly reducethe residual risk-even in high-risk business areas like private banking. However, no control framework caneliminate all riskentirely.
* Option Ais correct: Controls can significantly reduce the residual risk when strong, effective systems and procedures are in place.
* Option Bis partially true but suggests inadequacy, which is not indicated here.
* Option Cincorrectly assumes residual risk cannot be lowered even with controls.
* Option Dis incorrect because residual riskcannot be eliminated entirely.
Reference: ACAMS CAMS Study Guide - 6th Edition, Chapter:Enterprise-Wide Risk Assessment (EWRA)
- Section:Inherent Risk vs. Residual Risk and the Role of Controls

A customer who is nervous, uneasy, or in a hurry to cash a large cashier's check may be trying to launder money or evade reporting requirements. The teller should complete the transaction as normal, but also flag the customer's account for further monitoring and review. The teller should look for any unusual or suspicious patterns of activity, such as frequent large cash transactions, transfers to or from high-risk jurisdictions, or transactions that do not match the customer's profile or expected behavior. The teller should also document the transaction and the customer's demeanor, and report any findings or concerns to the appropriate authority within the bank.
The teller should not confer with the bank's account going forward, as this may alert the customer to the bank' s suspicion or compromise the investigation. The teller should not file a SAR on the customer, unless there are other grounds to suspect money laundering or terrorist financing, as this may be premature or unnecessary.
The teller should not file a CTR on the customer by the end of the day, unless the transaction exceeds the threshold of $10,000, as this is a legal requirement for cash transactions in the US.
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[ACAMS Study Guide for the CAMS Certification Examination, 6th Edition], Chapter 4: Conducting or Supporting the Investigation Process, pp. 103-104, 107-108.
Suspicious Activity Reporting - Overview, Federal Financial Institutions Examination Council, April 2018, pp. 1-2, 4-5.
Currency Transaction Reporting - Overview, Federal Financial Institutions Examination Council, April 2018, pp. 1-2, 4-5.
17 AML Analyst Interview Questions and Answers, CLIMB, July 15, 2022.

Section 319(b) of the USA PATRIOT Act allows U.S. authorities to seize funds from correspondent accounts held by foreign banks in the U.S.
* Option A (Correct):Section 319(b) grants the U.S. government authority to seize assets in U.S.
correspondent bank accounts belonging to foreign financial institutions involved in illicit activities.
* Option B (Incorrect):Section 314(b) facilitates voluntary information sharing among financial institutions but does not authorize asset seizure.
* Option C (Incorrect):Section 314(a) relates to law enforcement requests for financial intelligence, not asset seizures.
* Option D (Incorrect):Section 319(a) concerns record-keeping requirements for foreign banks but does not authorize asset seizures.
Best Practices for Foreign Banks with U.S. Correspondent Accounts:
* Ensure full AML compliance to avoid regulatory scrutiny.
* Avoid processing high-risk transactions that may trigger U.S. jurisdiction.
* Monitor cross-border transactions to detect potential financial crime exposure.
Reference:
USA PATRIOT Act Section 319(b) (Correspondent Banking Asset Seizures)
FinCEN Guidance on Extraterritorial AML Compliance
FATF Recommendation 13 (Correspondent Banking AML Risks)