Acams Exam CAMS-FCI Topic 4 Question 12 Discussion

Actual exam question for Acams's CAMS-FCI exam

Question #: 12
Topic #: 4

Due to an ever-diversifying business model and multi-jurisdictional footprint, a casino has decided to outsource the source of funds and wealth checks to a third-party provider. Why is it important for the casino to maintain control of the output from the provider?

AClients of the casino prefer to know that the casino is keeping their information secure when being held by a third-party.

BAs with all third-party relationships, proper control must be maintained to ensure profitability.

CThe casino maintains ultimate responsibility for this activity and should maintain control to avoid non-compliance.

DOther casinos are frequently looking to reduce costs and share ideas, so if this relationship is successful, the model can be used by other businesses.

Show Suggested Answer

Suggested Answer: C

The OFAC sanctions screening audit program should include the requirement that all clients with foreign identification are subject to enhanced due diligence, as this provides an extra layer of protection against potential violations of OFAC sanctions.

by Walton at Mar 07, 2025, 01:40 PM

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Kerrie

2 months ago

Haha, D? What, are they going to start a casino timeshare program? 'Come stay at our resort, where we'll give all your personal info to the highest bidder!'

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Domingo

7 days ago

C) The casino maintains ultimate responsibility for this activity and should maintain control to avoid non-compliance.

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Audra

9 days ago

B) As with all third-party relationships, proper control must be maintained to ensure profitability.

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Delisa

23 days ago

A) Clients of the casino prefer to know that the casino is keeping their information secure when being held by a third-party.

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Gilma

2 months ago

I'm surprised anyone would pick B. Profitability? Really? This is all about compliance and risk management, not the bottom line. C is the obvious choice here.

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Lanie

20 days ago

C) The casino maintains ultimate responsibility for this activity and should maintain control to avoid non-compliance.

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Jarvis

1 months ago

B) As with all third-party relationships, proper control must be maintained to ensure profitability.

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Charolette

1 months ago

C) The casino maintains ultimate responsibility for this activity and should maintain control to avoid non-compliance.

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Kristian

2 months ago

A) Clients of the casino prefer to know that the casino is keeping their information secure when being held by a third-party.

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Julio

2 months ago

I'm going with C as well. The casino can't just wash their hands of this responsibility. They need to stay on top of it to protect their clients and their own business.

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Celestina

2 months ago

I agree with C. The casino has to maintain control to ensure the provider's work meets all the necessary regulatory requirements. Letting them run wild would be a recipe for disaster.

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Christa

2 months ago

C) The casino maintains ultimate responsibility for this activity and should maintain control to avoid non-compliance.

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Adell

2 months ago

A) Clients of the casino prefer to know that the casino is keeping their information secure when being held by a third-party.

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Malinda

2 months ago

Definitely C. The casino can't just outsource this critical task and expect the third-party to handle it without oversight. Compliance is key, and the casino is ultimately responsible.

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Hoa

2 months ago

C) The casino maintains ultimate responsibility for this activity and should maintain control to avoid non-compliance.

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Brett

2 months ago

B) As with all third-party relationships, proper control must be maintained to ensure profitability.

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Elli

2 months ago

A) Clients of the casino prefer to know that the casino is keeping their information secure when being held by a third-party.

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Youlanda

2 months ago

But what about sharing ideas with other businesses? Couldn't that benefit the casino in the long run?

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Sherell

2 months ago

I agree with Krissy. The casino needs to ensure compliance and avoid any issues with non-compliance.

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Krissy

3 months ago

I think it's important for the casino to maintain control because they are ultimately responsible for the activity.

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