ACFCS Financial Crime SpecialistExam CFCS Question # 78 Topic 3 Discussion

ACFCS Financial Crime SpecialistExam CFCS Question # 78 Topic 3 Discussion

CFCS Exam Topic 3 Question 78 Discussion:
Question #: 78
Topic #: 3

A financial institution operates in multiple jurisdictions and encounters challenges in ensuring consistent compliance with OFAC sanctions across its global operations. What would be the most effective approach for the institution to enhance cross-border sanctions compliance?


A.

Establishing a centralized sanctions compliance team responsible for overseeing compliance efforts in all jurisdictions.


B.

Implementing jurisdiction-specific sanctions compliance policies tailored to the regulatory requirements of each country.


C.

Conducting regular risk assessments to identify jurisdiction-specific sanctions risks and adjust compliance measures accordingly.


D.

Outsourcing sanctions compliance responsibilities to third-party service providers specialized in global compliance solutions.


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