ACAMS
CAMS · Question #709
CAMS Question #709: Real Exam Question with Answer & Explanation
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Question
Which of the following measures is one that the FATF recommends that Financial Institutions (FIs) and Designated Non-Financial Businesses and Professions (DNFBPs) take to mitigate risks arising from business relationships with foreign politically exposed persons (PEPs)?
Options
- ASubscribe to commercial databases to assist in the detection of PEPs.
- BRaise transaction monitoring thresholds for PEP accounts in automated systems to account for
- CRequire approval from the prudential regulator for entering into or continuing the business
- DEstablish processes to understand the PEP's source of wealth and source of funds, and to refresh
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