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CAMS – Certified Anti-Money Laundering Specialist

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Showing 4–6 of 20 questions

Question 4

What are two legal risks of having inadequate privacy policies and procedures? (Choose two.)

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    Diminished reputation
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    Industry of regulatory sanctions
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    Charges of deceptive business practices
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    Higher marketing and public relations costs
Question 5

When implementing a risk-based approach related to casinos, which risks are related to the customer as an individual? (Choose two.)

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    Transfer between customers
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    Casual customers
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    Improper use of third parties as customers
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    Customer from a high-risk country
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    Use of casino deposit accounts by the customer
Question 6

The new compliance officer has reviewed the bank’s anti-money laundering training program. The program consists of online training for all new employees within 30 days of hire date and annual refresher training to all employees. In addition, there is specialized training for areas that deal with higher risk products and customers.

Over the last year, there have been no regulatory changes and no new products or services have been introduced. The compliance officer wants to propose to the board of directors that the annual refresher training is still current and can be delivered unchanged to all employees.

Which two critical pieces of information could be missed by taking this approach? (Choose two.)

Select all that apply, then click Submit answer.

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    Any new trends, developments, or risks
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    Results of the previous year’s risk assessment
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    Changes to internal policies, procedures, and processes
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    Links to enforcement actions identifying violations in other financial institutions