ACAMS
CAMS · Question #104
To ensure compliance with economic sanctions established by governmental authorities in the jurisdictions where it operates, a financial institution requires that all new and existing customers be scr
Sign in or unlock CAMS to reveal the answer and full explanation for question #104. The question stem and answer options stay visible for context.
AML/CFT Compliance Programs
Question
To ensure compliance with economic sanctions established by governmental authorities in the jurisdictions where it operates, a financial institution requires that all new and existing customers be screened at onboarding and quarterly thereafter. Is this step sufficient to ensure compliance?
Options
- ANo, screening should occur promptly after list updates
- BYes, this is recommended by the international guidance
- CNo, it is necessary to screen and perform enhanced due diligence on new relationships
- DYes, screening all existing customer relationships ensures the institutions is not dealing with a
Unlock CAMS to see the answer
You've previewed enough free CAMS questions. Unlock CAMS for full answers, explanations, the timed quiz mode, progress tracking, and the master PDF. Question stem and options stay visible so you can still see what's on the exam.
Topics
#sanctions screening#watchlist updates#OFAC compliance#customer screening frequency