According to the Tests from the guide #37 What is the reasoning behind implementing a “risk-based anti-money laundering approach”?
B. Institutions can best use their limited resources to focus on matters where the money laundering risks are highest.
The primary goal of an AML/CFT program is to protect the organization against money laundering, terrorist financing and other financial crimes and to ensure that the organization is in full compliance with relevant laws and regulations. For that reason, designing, structuring and implementing these programs should be the top priorities of any financial institution. Chapter 3- Page 141.
A is out, as it is impossible to detect all activity, B is obiously out as iti s not a purpose of AML program, D is out as there are various ways to launder money, not only wires and structuring, there are ACHs, money orders/checks and other products that AML program needs to Focus on, that only leaves C as correct answer.
its A ,
The purpose of the AML rules is to help detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.
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