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ACAMS AML CAMS Question # 47 Topic 5 Discussion

CAMS Exam Topic 5 Question 47 Discussion:
Question #: 47
Topic #: 5

A division anti-money laundering officer for a financial institution has been conducting a monthly self-assessment.

The officer reviews the accounts opened for compliance with a long standing Know Your Customer policy.

The self-assessment for the latest month shows a significant increase in compliance deficiencies for the first time in more than a year.

Which of the following is the next course of action for the anti-money laundering officer to take?


A.

Inform the Board promptly of the Know Your Customer policy trend over the last 6 months.


B.

Determine if there is a readily identifiable cause for the deficiencies.


C.

Implement a revision to the account-opening training program.


D.

Revise the policy to simplify Know Your Customer compliance before the report is issued.


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