High-Level Principles for FATF-Style Regional Bodies (FSRB)

D

(4)

FATF-Style Regional Bodies (FSRBs) are organizations that operate in different regions around the world and work to promote and facilitate the implementation of anti-money laundering and counter-terrorism financing measures. These bodies operate in coordination with the Financial Action Task Force (FATF), an intergovernmental organization that sets international standards and policies in the field of anti-money laundering and counter-terrorism financing.

The question asks for a high-level principle for FATF-Style Regional Bodies (FSRBs). Let's examine each answer choice and explain their relevance to FSRBs:

A. Membership, mission, financial procedures, and budget: This answer choice highlights key aspects that are important for the functioning of FSRBs. Membership refers to the countries or jurisdictions that are part of the FSRB and actively participate in its activities. The mission of the FSRB is to enhance the implementation of anti-money laundering and counter-terrorism financing measures within their respective regions. Financial procedures and budget indicate the need for proper financial management and resource allocation to support the activities of the FSRB. While these elements are important for the functioning of FSRBs, they do not specifically represent a high-level principle.

B. Dependent with different experiences to strengthen the overall effort: This answer choice suggests that FSRBs benefit from the diverse experiences and perspectives of their member countries or jurisdictions. By having participants from various regions with different backgrounds, FSRBs can enhance their collective understanding of money laundering and terrorist financing risks, and develop more effective strategies to address them. This principle emphasizes the importance of collaboration and knowledge sharing among FSRB members to strengthen their overall efforts.

C. Access to documents and assistance with meetings: This answer choice emphasizes the need for FSRB members to have access to relevant documents and receive assistance during meetings. Access to documents ensures that members have the necessary information to make informed decisions and contribute effectively to the work of the FSRB. Additionally, receiving assistance during meetings can facilitate the smooth operation of the FSRB and promote active participation from its members. While this principle is important for the functioning of FSRBs, it does not capture a high-level principle specific to FSRBs.

D. Reciprocity for effective participation and recognition of work: This answer choice represents a high-level principle for FSRBs. Reciprocity refers to the idea that FSRB members should actively contribute to the work of the organization and, in return, receive recognition for their efforts. It underscores the importance of mutual cooperation and engagement among FSRB members. By fostering reciprocity, FSRBs can create an environment where member countries or jurisdictions are motivated to actively participate, share information, and collaborate effectively in combating money laundering and terrorist financing.

In summary, the correct answer is D. Reciprocity for effective participation and recognition of work, as it represents a high-level principle for FATF-Style Regional Bodies (FSRBs).