ACAMS
CAMS · Question #987
CAMS Question #987: Real Exam Question with Answer & Explanation
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Question
A bank is preparing for a regulatory exam after a previous regulatory exam identified weaknesses in the bank's AML program. Since the last exam, the bank has improved the written AML program, hired an experienced AML compliance officer, and has taken actions to demonstrate a strong culture of compliance. The bank is now focused on getting through their transaction monitoring case backlog and completing enhancements to its sanctions screening program. Which of the following are correct? (Select Two.)
Options
- AThe bank is likely to face secondary sanctions from global financial institutions despite addressing
- BThe bank may face civil or criminal penalties if it is unable to demonstrate sustained improvement
- CThe bank may face the risk of regulatory orders to remediate its AML program despite addressing
- DThe bank is protected from reputational risk arising from any regulatory action because regulatory
- EThe regulatory agency may require the bank's board of directors to publicly share the actions
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