CAMS Exam Dumps | Which statement is true regarding the Financial Action Task Force standards for suspicious activity reports

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Question 214/374

Which statement is true regarding the Financial Action Task Force standards for suspicious activity reports (SARs) information sharing within a financial group?

A. Financial institutions should establish sufficient safeguards concerning the confidentiality of information shared for AML purposes.

B. Financial institutions must require approval from regulators to share SARs information and supporting documentation.

C. Financial institutions must retain copies of SARs and supporting documentation for five years from the date of filing the SARs.

D. Financial institutions cannot share customer information at all since it is confidential.

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