world_organizations hard MCQ

Which FATF recommendation requires countries to ensure that designated non-financial businesses and professions (DNFBPs) like lawyers, accountants, and real estate agents apply AML/CFT measures when engaging in specified activities?

  1. Recommendation 22
  2. Recommendation 23
  3. Recommendation 24
  4. Recommendation 25

Answer: Recommendation 22

Rec. 22 extends AML/CFT obligations to DNFBPs when they prepare or carry out transactions for clients concerning real estate, company formation, asset management, or legal services. This closes loopholes that criminals could exploit to launder proceeds or finance terrorism through professional services.

Topic Financial Action Task Force
Exam Relevance Banking, UPSC, SSC
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