CCCP International Compliance Programs 4

Question 1

Which international body evaluates countries' anti-money laundering and counter-terrorist financing frameworks through mutual evaluations?

Accepted Answer

The Financial Action Task Force (FATF)

Answer

FATF is the global standard-setting body for AML/CFT, conducting peer reviews of member countries' compliance with its 40 Recommendations and identifying high-risk jurisdictions.

Question 2

A company's Brazilian subsidiary learns of a local law requiring disclosure of competitor information that would violate U.S. antitrust laws. How should the compliance officer handle this conflict of laws?

Accepted Answer

Escalate to senior legal counsel to analyze the conflict and seek appropriate legal relief or exemptions

Answer

Conflicts between local legal requirements and home-country laws require legal analysis to identify possible exemptions, safe harbors, or procedural protections before taking action.

Question 3

Under EU General Data Protection Regulation (GDPR), what is the maximum administrative fine for the most serious violations?

Accepted Answer

€20 million or 4% of global annual turnover, whichever is higher

Answer

GDPR's most serious violations (Tier 2) can result in fines up to €20 million or 4% of the company's total global annual turnover from the preceding year, whichever is higher.

Question 4

What is the 'adequate procedures' defense under the UK Bribery Act, and which six principles guide it?

Accepted Answer

Proportionate procedures, top-level commitment, risk assessment, due diligence, communication, and monitoring/review

Answer

The UK Ministry of Justice guidance identifies six principles for adequate procedures: proportionality, top-level commitment, risk assessment, due diligence, communication/training, and monitoring/review.

Question 5

When assessing country risk for international compliance purposes, which combination of sources provides the most reliable corruption risk assessment?

Accepted Answer

Transparency International CPI, TRACE Matrix, FCPA enforcement history, and State Department reports

Answer

A robust country risk assessment combines multiple authoritative sources including TI's CPI, TRACE risk scores, regulatory enforcement history, and government country reports for a comprehensive view.

(CCCP) Certified Corporate Compliance Professional Practice Test

(CCCP) Certified Corporate Compliance Professional Practice Test

CCCP International Compliance Programs 4