Ace the 2026 CAMS Challenge – Uncover Your Anti-Money Laundering Mastery!

The classification of VSPs, or Virtual Service Providers, encompasses a range of professionals who often handle clients' financial transactions and are in a position to facilitate money laundering activities if not properly regulated. In this context, attorneys, accountants, and bankers are all considered VSPs because they provide services that can involve handling significant amounts of money or sensitive financial information.

Attorneys may conduct financial transactions and offer legal advice related to finances, while accountants manage financial records and reports that can influence money flow. Bankers directly deal with financial institutions and transactions, making them integral to any discussions on prevention of money laundering. Each of these professions has the potential to be exploited for illicit activities if adequate anti-money laundering (AML) processes are not in place, which is why they are recognized under the VSP classification.

The other options are too restrictive in their definitions. Limiting VSPs to only lawyers, art dealers, or financial auditors excludes other relevant professions that play a significant role in financial transactions and thus in money laundering risks. By recognizing a broader range of professionals, organizations can ensure comprehensive vigilance in AML efforts.