CAMS · Question #963
CAMS Question #963: Real Exam Question with Answer & Explanation
The correct answer is B. Applicable AML laws and regulations D. Money laundering typologies applicable to corporate loans. Specialized AML training must be relevant to the specific risks the corporate banking team faces, including legal/regulatory expectations and the ML/TF typologies applicable to their products and Applicable AML laws and regulations (B):"Staff must be aware of the applicable AML/C
Question
Options
- AMoney laundering typologies applicable to monetary instrument reporting
- BApplicable AML laws and regulations
- CRegulatory exam best practices
- DMoney laundering typologies applicable to corporate loans
Explanation
Specialized AML training must be relevant to the specific risks the corporate banking team faces, including legal/regulatory expectations and the ML/TF typologies applicable to their products and Applicable AML laws and regulations (B):"Staff must be aware of the applicable AML/CFT laws and regulatory requirements relevant to their business area."(CAMS 6th Edition, Chapter: AML Training and Awareness) Money laundering typologies applicable to corporate loans (D):"Training should include typologies and red flags that are most relevant to the risks present in the specific business line, such as corporate lending."(CAMS 6th Edition, AML Training for High-Risk Departments)
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