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

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Study for the Certified Anti-Money Laundering Specialist Certification (CAMS) exam. Engage with interactive quizzes and multiple-choice questions that provide hints and explanations to enhance your understanding. Gear up for your certification!

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Which sub-committee is part of the CDPC?

MONEYVAL, the committee for evaluating banking practices
PC-R-EV, focused solely on loan evaluations
FATF, which controls money laundering regulations
CAF, for monitoring cash flow

The correct answer is: MONEYVAL, the committee for evaluating banking practices

The correct choice reflects a sub-committee of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (CDPC) associated with MONEYVAL. This organization plays a crucial role in evaluating the effectiveness of countries' anti-money laundering and counter-terrorist financing (AML/CFT) systems. MONEYVAL assesses the compliance of member states with international AML standards, provides reports on their progress, and recommends improvements to enhance their efforts in combating money laundering. Its framework aids in ensuring that financial systems remain robust and less susceptible to abuse from criminal activities. Understanding the role of MONEYVAL is important for individuals preparing for the CAMS examination, as it underscores the significance of international cooperation and assessment in combating money laundering and terrorist financing. The other choices either represent committees that do not exist or do not align with the functions and purpose of the CDPC and the broader context of anti-money laundering efforts.