An anti-money laundering specialist has just developed and implemented an anti-money laundering program. Which of the following is the best resource to evaluate the effectiveness of the program?

Question

Options

• Athe regulatory authorities
• Ba member of senior management
• Cthe anti-money laundering specialist
• Da qualified independent party/auditor

• A
  3% (1)
• B
  15% (5)
• C
  9% (3)
• D
  74% (25)

Explanation

According to the Anti-Money Laundering Specialist (the 6th edition) study guide, an effective anti- money laundering program should be subject to periodic independent testing by a qualified party, such as an internal or external auditor, a consultant, or a compliance professional. This ensures that the program is compliant with the applicable laws and regulations, and that it meets the standards of sound risk management and internal controls. The regulatory authorities, a member of senior management, or the anti-money laundering specialist may not have the necessary expertise, objectivity, or independence to conduct a thorough and unbiased evaluation of the

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