Financial Action Task Force (FATF)

FATF Recommendation 32 addresses the need for countries to implement controls on cash movement across borders. This is done through:

MCQ

MCQ Answer

A. Mandatory confiscation of all cash.

B. Cash declaration or disclosure requirements. Correct

Explanation

Unreported cross-border cash is a primary tool for money laundering and terrorist financing.

C. A total ban on international travel.

D. Mandatory conversion of cash into cryptocurrency.

Correct Answer

Cash declaration or disclosure requirements.

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