Terminating customer relationships due toAML risksrequiresclear procedures and documentation.
Option B (Correct):Astandardized termination procedureensurescompliance, fairness, and consistency.
Option C (Correct):Afinal review of transactionshelps identifysuspicious activity before closure.
Option D (Correct):Documenting termination decisionsprotects the FI fromlegal and regulatory risks.
Option A (Incorrect):Whileclear communication is important, termination decisions should beconsistent and policy-driven.
Option E (Incorrect):Customers should benotified appropriatelybut not necessarilyaftertermination.
[Reference:FATF Risk-Based Approach Guidance for FIs, Wolfsberg Group Customer Exit Best Practices, FCA AML Guidance on De-risking., , , , ]
Submit