CAMS · Question #326
An anti-money laundering specialist at a large institution is responsible for information senior management about the status of the anti-money laundering program across the organization. Which…
The correct answer is B. Results of related audits and examinations. Results of related audits and examinations are the most useful report for an anti-money laundering specialist to inform senior management about the status of the anti-money laundering program across the organization. This is because audits and examinations provide an…
Question
An anti-money laundering specialist at a large institution is responsible for information senior management about the status of the anti-money laundering program across the organization. Which report is the most useful?
Options
- AThe total credit exposure for non-cooperative countries and territories
- BResults of related audits and examinations
- CDetails on inquires received from law enforcement
- DNotification of management changes in the different major divisions
How the community answered
(42 responses)- A7% (3)
- B79% (33)
- C12% (5)
- D2% (1)
Explanation
Results of related audits and examinations are the most useful report for an anti-money laundering specialist to inform senior management about the status of the anti-money laundering program across the organization. This is because audits and examinations provide an independent and objective assessment of the effectiveness, efficiency, and compliance of the anti-money laundering program, as well as identify any gaps, weaknesses, or areas for improvement. Audits and examinations can also help senior management to monitor the performance of the anti-money laundering program, ensure accountability and oversight, and demonstrate commitment to regulatory expectations and best practices.
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