ACAMS CCAS Exam With Confidence Using Practice Dumps

Management must consider a comprehensive set of features when evaluating virtual asset products and services, including:

Ability for other VASPs to utilize the service (A):This increases risk exposure as services may be used indirectly by unknown parties.

Ability to mingle funds within wider pools (B):Mixing services or pooled wallets increase anonymity and laundering risk.

Regulatory expectations (C):Management must ensure compliance with all applicable laws and guidelines.

Transaction volumes (D):High transaction volumes can increase operational risk and require enhanced monitoring.

The DFSA AML and COB Modules, as well as FATF guidance, stress that a risk-based approach requires consideration of all these features in product/service risk assessments.

Liquidity risk assessment focuses on the ability to execute trades without large price swings, which is reflected in order book depth and bid-ask spreads.

FATF standards specify that Virtual Asset Service Providers (VASPs) must keep records related to transactions and customer due diligence for at least 5 years after the completion of the transaction or end of the business relationship. This retention period facilitates effective AML investigations and regulatory reviews.

DFSA AML Module aligns with this timeframe, reinforcing that comprehensive record retention supports audit trails and compliance verification.