ACAMS
CAMS · Question #685
CAMS Question #685: Real Exam Question with Answer & Explanation
The correct answer is A. FIUs should document purposes for which personal data included on Suspicious Activity Reports. AML compliance must balance data privacy laws with financial crime prevention. Option A (Correct): FIUs must document the purpose of SAR-related data sharing under FATF Recommendation 29 and GDPR compliance standards.
Question
Which statement regarding data privacy is the most accurate in the context of AML investigations?
Options
- AFIUs should document purposes for which personal data included on Suspicious Activity Reports
- BAny customer that is the subject of a suspicious report filing has the right to request redaction of
- CData privacy laws prohibit information sharing between financial institutions for the purposes of
- DOrganizations are required to demonstrate that customers have opted into information sharing
Explanation
AML compliance must balance data privacy laws with financial crime prevention. Option A (Correct): FIUs must document the purpose of SAR-related data sharing under FATF Recommendation 29 and GDPR compliance standards.
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