Acams Exam CAMS Topic 4 Question 73 Discussion

Actual exam question for Acams's CAMS exam

Question #: 73
Topic #: 4

[All CAMS Questions]

Which statement is true regarding the Financial Action Task Force standards for suspicious activity reports (SARs) information sharing within a financial group?

AFinancial institutions should establish sufficient safeguards concerning the confidentiality of information shared for AML purposes.

BFinancial institutions must require approval from regulators to share SARs information and supporting documentation.

CFinancial institutions must retain copies of SARs and supporting documentation for five years from the date of filing the SARs.

DFinancial institutions cannot share customer information at all since it is confidential.

Show Suggested Answer

Suggested Answer: C

by Ettie at May 01, 2024, 10:44 PM

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