What are the primary sources of reference besides AML laws and regulations when developing and maintaining the AML policies, standards, and procedures of a bank? (Choose three.)

The correct answer is A. National Risk Assessment B. Regulatory guidance or publications D. Guidance issued by international bodies. When developing and maintaining AML policies, standards, and procedures, banks should rely on the National Risk Assessment, regulatory guidance or publications, and guidance issued by international bodies to ensure their frameworks align with both domestic and global best…

AML/CFT Compliance Programs

Question

Options

ANational Risk Assessment
BRegulatory guidance or publications
CGovernment or state-run newspapers
DGuidance issued by international bodies
EPolicies and procedures developed by other banks

How the community answered

(27 responses)

A
81% (22)
C
11% (3)
E
7% (2)

Explanation

When developing and maintaining AML policies, standards, and procedures, banks should rely on the National Risk Assessment, regulatory guidance or publications, and guidance issued by international bodies to ensure their frameworks align with both domestic and global best practices and risk considerations.

Topics

#AML policy development#national risk assessment#regulatory guidance#international standards

Community Discussion

No community discussion yet for this question.

Full CAMS Practice