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Exam CAMS Topic 3 Question 645 Discussion

Actual exam question for ACAMS's CAMS exam
Question #: 645
Topic #: 3
According to Basel Committee guidelines, which level of the organization should determine whether or not to enter business relationships with higher risk customers?

Suggested Answer: B Vote an answer

According to the Basel Committee guidelines, banks should formulate a customer acceptance policy and a tiered customer identification programme that involves more extensive due diligence for higher risk customers12. The customer acceptance policy should be approved by senior management and include clear guidelines on the types of customers that are likely to pose a higher than average risk to the bank1. Senior management should also ensure that the bank has adequate resources and systems to effectively manage the risks associated with higher risk customers1. Therefore, senior management should determine whether or not to enter business relationships with higher risk customers, based on the bank's risk appetite, policies, and procedures.
Reference:
CAMS Study Guide (the 6th edition), page 1843
Customer due diligence for banks - Bank for International Settlements1
The Basel Committee: The Important Set Of International Banking Regulations2

by Merry at May 12, 2025, 09:31 AM

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Here are all the actual test exam dumps for IT exams. Most people prepare for the actual exams with our test dumps to pass their exams. So it's critical to choose and actual test pdf to succeed.

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