| Exam Name: | Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) | ||
| Exam Code: | CAMS Dumps | ||
| Vendor: | ACAMS | Certification: | AML Certifications |
| Questions: | 395 Q&A's | Shared By: | hadley |
As emphasized in the Basel Committee guidance for "Sound management of risks related to money laundering and financing of terrorism", the third line of defense, or audit function, should:
A financial institution is conducting an enterprise-wide risk assessment (EWRA) and has identified a high inherent risk of money laundering associated with its private banking division due to the clientele’s high net worth and complex financial structures. However, the institution has implemented robust customer due diligence (CDD) and enhanced due diligence (EDD) procedures, along with sophisticated transaction monitoring systems.
How would these controls impact the assessment of residual risk?
The primary objectives of the Financial Action Task Force (FATF) are to: (Choose two.)