ACAMS
CAMS · Question #751
CAMS Question #751: Real Exam Question with Answer & Explanation
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Question
As emphasized in the Basel Committee guidance for "Sound Management of Risks Related to Money Laundering and Financing of Terrorism", the third line of defense (audit function) should:
Options
- AConduct AML audits no less often than every 12 months for consistency in annual reporting.
- BReport to the audit committee of the board of directors to maintain independence.
- CRemain independent from expressing opinions on the sufficiency of remediation or action plans to
- DBe involved in the day-to-day operations of the AML program to immediately prevent control
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