Cryptoasset Anti-Financial Crime Specialist (CCAS) Certification Practice Test

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According to the Financial Crimes Enforcement Network, what amount may trigger travel rule requirements?

  1. US$1,500.

  2. US$5,000.

  3. US$3,000.

  4. Greater than US$10,000.

The correct answer is: US$3,000.

The amount that triggers travel rule requirements, as stated by the Financial Crimes Enforcement Network (FinCEN), is US$3,000. The travel rule mandates that financial institutions must obtain and transmit certain information about the originator and the beneficiary in wire transfers and certain transactions. This requirement is part of the broader effort to combat money laundering and other financial crimes. In the context of cryptocurrency and digital assets, this means that when transactions exceed this threshold, related customer information must be included, ensuring transparency and accountability in financial transactions. Therefore, understanding this benchmark is critical for compliance with anti-money laundering (AML) obligations and effective monitoring of financial behaviors that may indicate illicit activities.

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