ACAMS
CAMS · Question #157
CAMS Question #157: Real Exam Question with Answer & Explanation
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Question
A close relative of a privately-owned bank's senior manager requests to open an account. Because of this relationship, the staff expedites the opening of the account without following established account-opening procedures. Applying the Basel Committee on Banking Supervision principles, which of the following poses the highest operational risk?
Options
- AFailure to conduct proper due diligence.
- BThe possibility of lawsuits that adversely affect the operations of a bank.
- CThe bank's exposure to politically exposed persons.
- DNot having appropriate information to share with Financial Intelligence Units.
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