CAMS Exam Dumps | An anti-money laundering consultant audits a bank's current anti-money laundering policies, procedures

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Question 97/332

An anti-money laundering consultant audits a bank's current anti-money laundering policies, procedures and controls. The bank serves high-income, high net-worth clients who include non-residents and offshore businesses. During a review of the customers list, the anti-money laundering consultant determines that he and the bank have mutual clients. The bank's written anti-money laundering program includes a process for the bank to establish the identity of the person with whom they conduct business, but does not address monitoring of customer account activity.
The consultant should recommend the bank:

A. Revise the procedures to better assess ongoing customer activity.

B. Focus on high-risk customer acceptance procedures.

C. Continue to follow the current written anti-money laundering program.

D. Reduce the risk rating on the mutual customers.

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