With which of the following should an anti-money laundering officer coordinate when implementing anew hire screening program?

Question

Options

• AInternal auditor
• BLocal Financial Intelligence Unit
• CHuman resources
• DInstitution's regulator

• A
  16% (7)
• B
  7% (3)
• C
  72% (31)
• D
  5% (2)

Explanation

An anti-money laundering officer should coordinate with human resources when implementing a new hire screening program, because human resources is responsible for managing the recruitment, hiring, and training of employees, as well as ensuring compliance with labor laws and regulations. A new hire screening program is a key component of an effective anti-money laundering (AML) program, as it helps to prevent the hiring of individuals who may pose a risk of facilitating money laundering, terrorist financing, or other financial crimes, or who may have a criminal or disciplinary history that could compromise the integrity of the institution. A new hire screening program should include background checks, verification of credentials and references, and assessment of skills and competencies relevant to the AML function. An anti-money laundering officer should work closely with human resources to establish the criteria, procedures, and documentation for the screening program, as well as to monitor its implementation and

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