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Question 405

The bank's Compliance Officer is tasked with designing standards based on Basel's KYC principles.
Which essential elements should be included in the program? (Choose two.)

  • A. Appointing an independent audit function
  • B. Conducting a money laundering risk assessment
  • C. Documenting a customer acceptance policy Most Votes
  • D. Establishing on-going monitoring of high-risk accounts Most Votes
  • E. Reporting suspicious activity
Answer:

C, E


Explanation:
Reference:
https://www.bis.org/publ/bcbs77.pdf

User Votes:
A 75 votes
50%
B 221 votes
50%
C 287 votes
50%
D 234 votes
50%
E 156 votes
50%
Discussions
0 / 1000
amarillys
1 year, 6 months ago

the correct answer id C and D

zinu_cool (replied to amarillys)
1 year, 6 months ago

Yes! I had the same response too, but it says here the correct answer is C & E !

singrajv
1 year, 6 months ago

C. Documenting a customer acceptance policy
E. Reporting suspicious activity

tinaguha
1 year, 5 months ago

Documenting a customer acceptance policy and establishing on-going monitoring of high-risk accounts.

tinaguha
1 year, 5 months ago

The correct answer is C and D.

arkonis
1 year, 5 months ago

It absolutely is C and D

abbass.yousaf2000
1 year, 4 months ago

A. Appointing an independent audit function

neginarotam
1 year, 4 months ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

Kleopapp
1 year, 4 months ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

alinemaidla
1 year, 4 months ago

B. Conducting a money laundering risk assessment
E. Reporting suspicious activity

AnaA.
1 year, 4 months ago

B. Conducting a money laundering risk assessment
D. Establishing on-going monitoring of high-risk accounts

AnaA.
1 year, 3 months ago

B. Réaliser une évaluation des risques de blanchiment de capitaux.
D. Établir une surveillance continue des comptes à haut risque.

AnaA.
1 year, 3 months ago

D. D. Réalisation d’une évaluation des risques de blanchiment d’argent
D. Mise en place d’une surveillance continue des comptes à haut risque

AnaA.
1 year, 3 months ago

B. Réaliser une évaluation des risques de blanchiment de capitaux
C. Documenter une politique d'acceptation du client

damola.adeyoyin
1 year, 3 months ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

adnan_shaikat
1 year, 3 months ago

It will be both C and D.

adnan_shaikat
1 year, 3 months ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

FinPro_Audit
1 year, 3 months ago

The correct answers C, E

dinbits
1 year, 3 months ago

The most correct answer is C, E.

AravindBharathy
1 year, 2 months ago

Documenting a customer acceptance policy

richap
1 year, 2 months ago

C. Documenting a customer acceptance policy

Sheila
1 year, 2 months ago

,Establishing on-going monitoring of high-risk accounts, Conducting a money laundering risk assessment

Nathaly
1 year, 2 months ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

ldj32780
1 year, 2 months ago

I would have thought D would be applicable also.

varun_nanda
1 year, 2 months ago

Conducting a money laundering risk assessment
Documenting a customer acceptance policy

Salkuwari
1 year, 1 month ago

Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

sharna
1 year, 1 month ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

sunnyvarughese
1 year, 1 month ago

Establishing ongoing monitoring

sunnyvarughese
1 year, 1 month ago

Establishing on-going monitoring of high-risk accounts

sunnyvarughese
1 year, 1 month ago

Conducting a money laundering risk assessment

sunnyvarughese
1 year, 1 month ago

Thanks for submitting , your comment will be approved soon by our moderators

Iyke
1 year, 1 month ago

Its just okay

Tukahirwa
1 year, 1 month ago

Conducting a money laundering risk assessment and Reporting suspicious activity

lll
1 year ago

Conducting a money laundering risk assessment
E. Reporting suspicious activity

CSP82
1 year ago

Reporting suspicious activity Conducting a money laundering risk assessment

orgertaabazi
1 year ago

Documenting a customer acceptance policy and Reporting suspicious activity

Divyabajaj1990
12 months ago

. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

Xiaoyi
11 months, 1 week ago

4 Key elements: customer identification, risk management, customer acceptance policy and ongoing monitoring. So C&D.

Vinaygajula
11 months, 1 week ago

accomplish the foreign policy and national security goals of the US.

sulekhasingh
11 months, 1 week ago

Conducting a money laundering risk assessment
C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

sekijogos
10 months, 3 weeks ago

10 CHARACTERS OR MORE

dion_loef
10 months, 2 weeks ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

kmurtaza465
10 months ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

shilpadilan
9 months ago

C. Documenting a customer acceptance policy
E. Reporting suspicious activity

Jenren
8 months, 4 weeks ago

B, D are correct

Josephine
8 months, 3 weeks ago

B.Conducting a money laundering
d.high risk accounts

mmulei
7 months, 4 weeks ago

C&D is correct answer

Ilovejazz76
7 months, 3 weeks ago

Appointing an independent audit function
Conducting a money laundering risk assessment

lamiyehi
7 months, 2 weeks ago

B. Conducting a money laundering risk assessment
C. Documenting a customer acceptance policy

LAURA_GHEORGHE13
7 months ago

C. Documenting a customer acceptance policy
E. Reporting suspicious activity

nagesh
7 months ago

Conducting a money laundering risk
Documenting a customer acceptance policy

Radhika
6 months, 4 weeks ago

C & D is the answer

OORVESH
6 months, 2 weeks ago

Documenting a customer acceptance policy
Reporting suspicious activity

OORVESH
6 months, 2 weeks ago

Reporting suspicious activity

pritiamre
6 months, 2 weeks ago

Conducting a money laundering risk assessment and Establishing on-going monitoring of high-risk accounts

ndhami
6 months, 2 weeks ago

Establishing on-going monitoring of high-risk accounts

Hussain
6 months, 2 weeks ago

Conducting a money laundering risk assessment
Documenting a customer acceptance policy

xcheatham
6 months, 1 week ago

D. Establishing on-going monitoring of high-risk accounts
E. Reporting suspicious activity

kaklimala
6 months ago

Documenting a customer acceptance policy and Establishing on-going monitoring of high-risk accounts

Kareema
5 months, 3 weeks ago

Not: A or B: because they are principles of AML/CFT Program not KYC
Not: D because "monitoring" is always for suspicious activities not only for high risk
so the closest answer are C and E

Abhay9582303944
5 months, 3 weeks ago

D and E is the answer as per Basel principle

Nis
4 months, 4 weeks ago

Conducting a money laundering risk assessment

wellness
3 months, 1 week ago

Answers are B, D

Shammaali
3 months ago

B. Conducting a money laundering risk assessment
C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts
E. Reporting suspicious activity

Shammaali
3 months ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

lf
2 months, 2 weeks ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

dionette_tayl
2 months ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

Vadacohen
4 weeks ago

C and E are the answers

krishna_shiva29
2 weeks, 5 days ago

C. Documenting a customer acceptance policy

Vikneswariram
2 weeks, 5 days ago

Conducting a money laundering risk assessment