CAMS Exam Dumps | The Basel Committee on Banking Supervision published guidelines on the "Sound Management of Risks Related

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Question 3/374

The Basel Committee on Banking Supervision published guidelines on the "Sound Management of Risks Related to Money Laundering and Financing of Terrorism." With regard to identifying and accepting customers, it recommends that banks: (Select Two.)

A. Establish policies and procedures for customer due diligence that vary based on risk.

B. Are prohibited from offering numbered accounts to customers, even if procedures are established to gather and maintain due diligence information.

C. Establish policies and procedures to identify and verify customers, beneficial owners, and any individuals that can transact on behalf of their customers.

D. Establish policies and procedures to ensure due diligence activities are identical for all customers.

E. Establish policies and procedures that encourage processing transactions while due diligence information is being established and verified.

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