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

Question: 1 / 455

What requirement does the Council of Europe Directive place on member states?

To discontinue the use of cash in financial transactions

To amend national laws to prevent money laundering

The requirement placed on member states by the Council of Europe Directive focuses on amending national laws to prevent money laundering. This directive aims to create a framework that allows member states to develop legal measures which can effectively combat money laundering and financing of terrorism. By mandating changes to national legislation, the directive ensures that all member countries adopt necessary rules that align with international standards. This fosters a cohesive approach to tackling these financial crimes across different jurisdictions, making it crucial for laws to be both robust and compatible with the overarching goals of the directive.

While the other choices may touch on important aspects of financial oversight and regulation, they do not specifically align with the core requirement established by the Council of Europe Directive, which is centered on legal reforms to combat money laundering.

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To improve communication between banks and businesses

To increase transparency in financial markets

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