Gatekeepers (e.g., accountants, auditors, lawyers) play a critical role in detecting financial crime.
* Option B (Correct):Corporate clientsposehigher money laundering risksdue tocomplex ownership structures and cross-border financial activities.
* Option C (Correct):The nature of requested services(e.g.,offshore structuring, large cash transactions) can indicate potentialmoney laundering attempts.
Why Other Options Are Incorrect:
* Option A (Incorrect):The length of time a client has been with an accounting firm does not necessarily indicate financial crime risk.
* Option D (Incorrect):Short-term relationships may be high-risk, but understanding the business type and services requested is more critical.
Red Flags for Money Laundering in Professional Services:
* Clients requesting offshore structures for no apparent business reason.
* Use of complex trusts or nominee directors to obscure ownership.
* Unexplained large transactions moving through legal or accounting firms.
Best Practices for Gatekeepers to Prevent Money Laundering:
* Perform Enhanced Due Diligence (EDD) on high-risk clients.
* Report unusual financial activity to FIUs.
* Follow FATF's DNFBP (Designated Non-Financial Businesses and Professions) AML guidelines.
Reference:
FATF Recommendation 22 (AML Compliance for Accountants and Lawyers)
Wolfsberg Group Guidance on DNFBP AML Risks
EU 6th AML Directive (6AMLD) on DNFBP Risk Management
Final Thoughts:
FIUs play a central role in financial intelligence collection and sharing.
The Egmont Group enables cross-border AML cooperation among FIUs.
Gatekeepers, such as accountants and lawyers, must monitor corporate clients for money laundering risks.

Economic sanctions are penalties imposed by a country or a group of countries on another country, entity, or individual for foreign policy or security purposes. There are different types of economic sanctions, depending on the scope, objective, and mechanism of the sanctions. Some of the common types are:
* Targeted sanctions: These are sanctions that aim to minimize the adverse effects on the general population and the environment, and focus on specific individuals, entities, sectors, or activities that are responsible for or involved in the undesirable behavior or conduct. Targeted sanctions can include travel bans, asset freezes, arms embargoes, and trade restrictions on certain goods or services. For example, the United States and the European Union have imposed targeted sanctions on various officials, entities, and sectors in Russia, Iran, Syria, Venezuela, and other countries for human rights violations, nuclear proliferation, terrorism, corruption, and other reasons.
* Sectoral sanctions: These are sanctions that target a specific sector or industry of the economy of the sanctioned country, such as energy, finance, defense, or transportation. Sectoral sanctions aim to disrupt the economic activity and revenue of the targeted sector, and to create pressure on the government or regime to change its policies or behavior. For example, the United States has imposed sectoral sanctions on Iran's oil, gas, petrochemical, and automotive industries, as well as its central bank and other financial institutions, to curb its nuclear program and support for regional proxies.
* Comprehensive sanction: These are sanctions that impose a total or near-total ban on trade, investment, and other economic relations with the sanctioned country. Comprehensive sanctions are the most severe and broadest form of economic sanctions, and they aim to isolate the country from the global market and cause severe economic hardship and social unrest. Comprehensive sanctions are often accompanied by diplomatic isolation and military intervention. For example, the United States has maintained a comprehensive embargo on Cuba since 1962, prohibiting most trade, travel, and financial transactions with the island nation, as well as supporting its political opposition and dissidents.
What Are Economic Sanctions?, Council on Foreign Relations
Types of Economic Sanctions, Profolus
Economic sanctions, Wikipedia
How Economic Sanctions Work, Investopedia
CAMS Certification Package - 6th Edition, ACAMS
CAMS Certifications: How to Get CAMS Certified, ACAMS
Reference: https://www.cfr.org/backgrounder/what-are-economic-sanctions