Financial Action Task Force (FATF)

FATF Recommendation 24 focuses on the requirement for legal persons (companies) to disclose their:

MCQ

MCQ Answer

A. Annual revenue and tax filings.

B. Beneficial ownership (who ultimately owns or controls the company). Correct

Explanation

Lack of beneficial ownership transparency is a major vulnerability, allowing criminals to hide illicit funds behind shell companies.

C. Employee salary structure.

D. Marketing strategy.

Correct Answer

Beneficial ownership (who ultimately owns or controls the company).

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