ACAMS
CAMS · Question #768
An AML compliance officer is drafting plans to address deficiencies identified in an independent audit. Which approach is the best option?
The correct answer is C. Draft action plans that will take many months to fully implement to address the root cause of the. A long-term, root cause-based approach ensures AML deficiencies are fully remediated. Option C (Correct): Addressing root causes ensures the institution remains compliant and prevents recurring violations.
AML/CFT Compliance Programs
Question
An AML compliance officer is drafting plans to address deficiencies identified in an independent audit. Which approach is the best option?
Options
- ADraft action plans in consultation with the jurisdiction's FIU to remain aligned with other similar
- BOnly commit to action plans that can be implemented and closed within the three-month
- CDraft action plans that will take many months to fully implement to address the root cause of the
- DOnly commit to action plans that require no new investment to maximize shareholder value.
How the community answered
(22 responses)- A14% (3)
- B5% (1)
- C77% (17)
- D5% (1)
Explanation
A long-term, root cause-based approach ensures AML deficiencies are fully remediated. Option C (Correct): Addressing root causes ensures the institution remains compliant and prevents recurring violations.
Topics
#audit remediation#action plans#root cause analysis#compliance program management
Community Discussion
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