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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) CAMS Question # 2 Topic 1 Discussion

ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) CAMS Question # 2 Topic 1 Discussion

CAMS Exam Topic 1 Question 2 Discussion:
Question #: 2
Topic #: 1

Which of the following measures is one that the FATF recommends that Financial Institutions and Designated Non-Financial Businesses and Professions (DNFPB) take to mitigate risks arising from business relationships with foreign politically exposed persons (PEPs)?


A.

Raise transaction monitoring thresholds for PEP accounts in automated systems to account for higher transaction values and complex legal vehicles and financial structures


B.

Require approval from the prudential regulator for entering into or continuing the business relationship


C.

Subscribe to commercial databases to assist in the detection of PEPs


D.

Establish processes to understand the PEP's source of wealth and the source of funds, and to refresh that understanding on a regular basis


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