Advanced-CAMS-Audit Exam Dumps : Advanced CAMS-Audit Certification Exam

Update the national art registry with the sale price of the art work so that art-based money laundering can be detected.

Perform enhanced due diligence on the seller and buyer and update client records with findings

Review procedures for accepting commission sales and determining the buyer's source of funds on a best effort basis

Commission an external investigator to perform enhanced due diligence on the buyer.

Both CAAT and traditional methods of auditing allow auditors to build conclusions based upon a limited sample of a population.

KYC data that have been incorporated into the warehouse could still be changed if need be from using CAAT.

Auditors using CAAT could have all customer addresses from the past 10 years while auditors using traditional methods of auditing could only have a sample of these customer addresses.

CAAT cannot be customized to scrutinize huge volumes of data and produce specific procedures that could replace the requirement for the auditor's own procedures.

recall the audit report assess the error and resubmit the correct one.

report the error to the local AML regulator.

reevaluate the item(s) and resubmit findings for discussion on factualaccuracy.

tell those who received the communication of the error and corrections.