ACAMS
CAMS · Question #400
To guard against acquisition or control of a financial institution by money launderers or their associates, what should supervisory agencies require?
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AML/CFT Compliance Programs
Question
To guard against acquisition or control of a financial institution by money launderers or their associates, what should supervisory agencies require?
Options
- AAdequate surety bonds, cash deposits, or equivalencies
- BComprehensive compliance programs
- CProspective owners have prior experience in the area of finance
- DThorough due diligence on prospective owners
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Topics
#supervisory requirements#ownership due diligence#financial institution licensing#anti-takeover controls