Acams Exam CAMS Topic 4 Question 89 Discussion

Actual exam question for Acams's CAMS exam

Question #: 89
Topic #: 4

[All CAMS Questions]

Which step should financial institutions take when complying with sanctions requirements?

AAdopt automatic screening systems to detect designated persons and entities.

BChange the risk profile to 'high-risk' if an existing customer becomes a sanctioned entity and continue monitoring further transactions.

CConduct enhanced due diligence (EDD) for prohibited entities on the sanctions list.

DFreeze the funds or assets of designated persons and entities once this decision is approved by the board.

Show Suggested Answer

Suggested Answer: A

by Jolanda at Oct 18, 2024, 09:48 AM

Limited Time Offer

25%

Off

Get Premium CAMS Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Karol

I'd go with Option D. Freezing the funds or assets is the most direct way to comply with sanctions, and it's the best way to avoid any legal issues.

upvoted 0 times

...

Brynn

16 days ago

I believe conducting enhanced due diligence is also crucial to comply with sanctions requirements.

upvoted 0 times

...

Evelynn

16 days ago

Option A seems like the practical choice - automating the screening process can help financial institutions stay on top of sanctions requirements efficiently.

upvoted 0 times

...

Wava

20 days ago

I agree with Fabiola, it's important to detect designated persons and entities.

upvoted 0 times

...

Fabiola

21 days ago

I think financial institutions should adopt automatic screening systems.

upvoted 0 times

...