CAMS Exam Dumps | Abank is preparing for a regulatory examafter a previousregulatory exam identified weaknesses in its

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Question 124/417

Abank is preparing for a regulatory examafter a previousregulatory exam identified weaknesses in its AML program. Since the last exam, the bank has:
* Improved its written AML program
* Hired an experienced AML compliance officer
* Demonstrated a stronger culture of compliance
* Focused on clearing its transaction monitoring case backlog and enhancing its sanctions screening program Which of the followingare correct? (Select Two.)

A. The bank is likely to face secondary sanctions from global financial institutions despite addressing many of the previous concerns.

B. The bank is protected from reputational risk arising from any regulatory action because regulatory orders must remain confidential.

C. The bank may face the risk of regulatory orders to remediate its AML program despite addressing many of the previous concerns.

D. The bank may face civil or criminal penalties if it is unable to demonstrate sustained improvement in addressing the previous concerns.

E. The regulatory agency may require the bank's board of directors to publicly share the actions taken to address the previous concerns in order to limit its reputational risk.

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