ACAMS
CAMS · Question #977
CAMS Question #977: Real Exam Question with Answer & Explanation
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Question
According to guidelines issued by Basel Committee on Banking Supervision relating to corporate governance principles for banks, what is the role of the board of directors in addressing an institution's AML oversight and governance?
Options
- AThe board of directors should be responsible for overseeing the management of the bank's
- BThe board of directors should establish a compliance function and approve the bank's policies for
- CThe compliance function must have sufficient authority, stature, independence, and resources to
- DThe compliance function should report directly to the CEO concerning the bank's compliance with
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