ACAMS
CAMS · Question #670
CAMS Question #670: Real Exam Question with Answer & Explanation
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Question
A financial institution is designing an Enterprise-Wide Risk Assessment (EWRA). According to the Wolfsberg Group's risk-based approach to AML, an effective EWRA should:
Options
- AUse a framework provided by a third-party vendor and used by other FIs in the jurisdiction.
- BInclude appropriate measures and controls to mitigate money laundering risks stemming from
- CFocus on understanding the risks presented by new clients within the assessment period and the
- DFocus on the inherent risk in the FI's product and service offerings and the controls to mitigate
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