CAMS Exam Dumps | A close relative of a privately-owned bank's senior manager requests to open an account. Because of this

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Question 2/263

A close relative of a privately-owned bank's senior manager requests to open an account. Because of this relationship, the staff expedites the opening of the account without following established account-opening procedures. Applying the Basel Committee on Banking Supervision principles, which of the following poses the highest operational risk?

A. Failure to conduct proper due diligence.

B. The possibility of lawsuits that adversely affect the operations of a bank.

C. The bank's exposure to politically exposed persons.

D. Not having appropriate information to share with Financial Intelligence Units.

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