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Acams Exam Advanced-CAMS-Audit Topic 2 Question 1 Discussion

Actual exam question for Acams's Advanced-CAMS-Audit exam
Question #: 1
Topic #: 2
[All Advanced-CAMS-Audit Questions]

Which key risk indicator should the internal auditor consider when reviewing correspondent banking activities?

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Suggested Answer: C

Contribute your Thoughts:

Emerson
1 months ago
I believe the volume of transaction activity referred by the respondent bank is also important to consider.
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Brittni
1 months ago
I agree with Ivan, correspondent banking relationships in high-risk jurisdictions can pose greater AML/CFT risks.
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Ivan
1 months ago
I think the internal auditor should consider the number of respondent banks located in higher risk jurisdictions.
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Sheron
2 months ago
Haha, I bet the auditor is just hoping none of the respondent banks are located in Mordor or something. But yeah, C is the clear choice here.
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Tresa
9 days ago
User 4: Tresa, I agree. It's crucial for the internal auditor to consider all these factors when reviewing correspondent banking activities.
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Gerald
22 days ago
User 3: Gerald, I think you're right. Those high-risk jurisdictions can really increase AML/CFT risks.
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Nan
30 days ago
User 2: Nan, I agree. C) Number of respondent banks located in higher risk jurisdictions is definitely an important risk indicator.
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Stevie
1 months ago
User 1: Haha, I bet the auditor is just hoping none of the respondent banks are located in Mordor or something.
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Josefa
2 months ago
I agree, C is the way to go. You can't ignore the risks posed by banks in sketchy locations.
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Kathryn
2 months ago
C definitely seems like the right answer here. Correspondent banking with banks in higher-risk jurisdictions can be a major red flag for AML/CFT issues.
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Ruthann
20 days ago
It's crucial for internal auditors to pay attention to the size and stature of a respondent bank's operations in its home country as well.
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Laura
21 days ago
Yes, the number of respondent banks located in higher risk jurisdictions is an important key risk indicator to consider.
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Danilo
1 months ago
I agree, correspondent banking with banks in high-risk jurisdictions is definitely a red flag for AML/CFT issues.
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