Exam CCAS Topic 2 Question 9 Discussion

Actual exam question for ACAMS's CCAS exam
Question #: 9
Topic #: 2

Which operational risk mitigation practice by virtual asset service providers (VASPs) is most effective when considering their relationships with other VASPs?

A. Having no requirement to establish a correspondent relationship and build a risk assessment framework among other cryptoasset exchanges prior to transferring for or on behalf of another person B. Developing cross-border correspondent relationships with cryptoasset exchanges in jurisdictions that have weak or non-existent anti-money laundering (AML) regulation or supervision C. Assigning all such relationships as high risk and conducting enhanced due diligence on all of them D. Gathering sufficient information on the counterpart VASP to determine the quality of the supervision it receives for transactional activities

Suggested Answer: D Vote an answer

Effective risk mitigation requires VASPs to obtain sufficient information about counterpart VASPs to assess the quality of their regulatory supervision and controls. This helps determine the risk of transactions and build a risk-based framework for correspondent relationships.
Having no requirements (A) or engaging with poorly regulated jurisdictions (B) increases risk. Blanket high-risk classification (C) without proper assessment is inefficient.
FATF Recommendation 15 and DFSA guidance emphasize due diligence on counterparties as a critical control.

by Fabian at Aug 27, 2026, 08:20 PM

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