IAPP Exam CIPP-A Topic 2 Question 71 Discussion

Actual exam question for IAPP's CIPP-A exam

Question #: 71
Topic #: 2

Which control is NOT included in the requirements established by the Monetary Authority of Singapore (MAS) for financial institutions in order to deter money-laundering and financial aid to terrorism (AML/CFT)?

AIdentifying and knowing customers.

BSharing personal information with the PDPC.

CConducting regular reviews of customer accounts.

DMonitoring and reporting suspicious financial transactions.

Show Suggested Answer

Suggested Answer: A

by Vallie at Oct 24, 2024, 08:44 AM

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Laurel

29 days ago

The PDPC? What is this, a crossover episode? B is clearly the odd one out, unless the MAS has a secret love for data protection authorities. I'll stick with the classic AML/CFT controls, thank you very much.

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Jaime

14 days ago

C) Conducting regular reviews of customer accounts.

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Carmela

17 days ago

B) Sharing personal information with the PDPC.

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Cheryl

18 days ago

A) Identifying and knowing customers.

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Marshall

1 months ago

Bingo, B is the answer. The MAS cares about knowing your customers, monitoring transactions, and reporting suspicious activity - not about sharing data with other agencies. Gotta keep that customer info under lock and key!

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Janey

1 months ago

Hah, B is obviously the wrong answer here. The MAS would never ask institutions to share personal info with the PDPC for AML/CFT. They're more interested in the customers themselves, not the regulators!

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Gertude

1 months ago

B is the odd one out for sure. I can't imagine the MAS would require financial institutions to share customer data with the PDPC as part of their AML/CFT measures. Seems like a bit of a trick question.

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Laila

6 days ago

D) Monitoring and reporting suspicious financial transactions.

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Lasandra

7 days ago

C) Conducting regular reviews of customer accounts.

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Zena

9 days ago

A) Identifying and knowing customers.

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Sherita

1 months ago

Ah, question B definitely seems out of place. Sharing personal information with the PDPC doesn't sound like an AML/CFT requirement. The other options all seem relevant to me.

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Fannie

3 days ago

C) Conducting regular reviews of customer accounts.

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Deonna

5 days ago

B) Sharing personal information with the PDPC.

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Paulene

6 days ago

A) Identifying and knowing customers.

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Deangelo

2 months ago

I disagree. I believe the answer is C) Conducting regular reviews of customer accounts because it is not specifically mentioned in the requirements by MAS.

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Gracie

2 months ago

I agree with Walker. Sharing personal information with the PDPC is not a requirement for AML/CFT.

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Walker

3 months ago

I think the answer is B) Sharing personal information with the PDPC.

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