Cams Exam Quesiton No 11
Question No 11:
What is the Right of Reciprocity in the field of international cooperation against money laundering?
A. The legal principle that financial institutions that have referred customers to other financial institutions can share information about these customers with the other institutions.
B. A rule of the Basel Committee allowing properly regulated financial institutions of another member state of the Basel Committee to do business without additional supervision to the degree that the other state grants the same right. |
C. The right of each FATF member country to delegate prosecution of a case of money laundering to another member that is already investigating the same case.
D. Rule in the law of a country allowing its authorities to cooperate with authorities of other countries to the degree that their law allows them to do the same.
Answer: D
What is the Right of Reciprocity in the field of international cooperation against money laundering?
A. The legal principle that financial institutions that have referred customers to other financial institutions can share information about these customers with the other institutions.
B. A rule of the Basel Committee allowing properly regulated financial institutions of another member state of the Basel Committee to do business without additional supervision to the degree that the other state grants the same right. |
C. The right of each FATF member country to delegate prosecution of a case of money laundering to another member that is already investigating the same case.
D. Rule in the law of a country allowing its authorities to cooperate with authorities of other countries to the degree that their law allows them to do the same.
Answer: D
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