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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) CAMS Question # 83 Topic 9 Discussion

ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) CAMS Question # 83 Topic 9 Discussion

CAMS Exam Topic 9 Question 83 Discussion:
Question #: 83
Topic #: 9

An AML compliance officer for a large bank has recently received an internal audit report on the private banking unit. The report revealed that the unit staff were not following risk-based due diligence procedures, so that the unit was not operating effectively.

Which immediate actions should the AML compliance officer consider to address these findings? (Select Two.)

Management Should implement a quality assurance program in the private banking unit


A.

Private bankers should receive training on AML procedures.


B.

All employees should receive refresher AML training.


C.

The board should review and approve a revised AML policy to change customer due diligence requirements in private banking.


D.

The legal department should conduct a review to assess potential legal consequences.


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