CAMS · Question #775
CAMS Question #775: Real Exam Question with Answer & Explanation
The correct answer is B. Periodic and ad hoc cooperation with the legal team to appropriately investigate and monitor the D. Periodic review of the transaction monitoring scenarios and their productivity to ensure that. Transaction monitoring governance involves ensuring that AML detection systems are effective, aligned with regulatory standards, and capable of identifying evolving threats. Option B (Correct): Legal cooperation is essential for responding to subpoenas and law enforcement inquiri
Question
Options
- APeriodic review of suspicious activity reports (SARs) filed with FinCEN to determine whether any
- BPeriodic and ad hoc cooperation with the legal team to appropriately investigate and monitor the
- CPeriodic review of client profiles to ensure that the most up-to-date information is on file for high-
- DPeriodic review of the transaction monitoring scenarios and their productivity to ensure that
Explanation
Transaction monitoring governance involves ensuring that AML detection systems are effective, aligned with regulatory standards, and capable of identifying evolving threats. Option B (Correct): Legal cooperation is essential for responding to subpoenas and law enforcement inquiries. Option D (Correct): Regularly updating transaction monitoring scenarios ensures that the system adapts to emerging financial crime trends.
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