ACAMS
CAMS · Question #765
CAMS Question #765: Real Exam Question with Answer & Explanation
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Question
A bank is preparing for a regulatory exam after a previous regulatory exam identified weaknesses in its AML program. Since the last exam, the bank has: - Improved its written AML program - Hired an experienced AML compliance officer - Demonstrated a stronger culture of compliance - Focused on clearing its transaction monitoring case backlog and enhancing its sanctions screening program Which of the following are correct? (Select Two.)
Options
- AThe bank is likely to face secondary sanctions from global financial institutions despite addressing
- BThe bank is protected from reputational risk arising from any regulatory action because regulatory
- CThe bank may face the risk of regulatory orders to remediate its AML program despite addressing
- DThe bank may face civil or criminal penalties if it is unable to demonstrate sustained improvement
- EThe regulatory agency may require the bank's board of directors to publicly share the actions
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