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

Enhancements to the CRA Process:

Risk Factors:Identify and document specific risk indicators for transparency and consistent assessment. This ensures alignment with the risk-based approach advocated by FATF​​.

Type of Customer:Differentiating customer types (trust, company, individual) is critical for tailoring due diligence measures to the unique risks associated with each type​​.

Residence (Country):Tracking customer jurisdiction ensures risk assessments reflect geopolitical and regulatory changes, fulfilling FATF compliance expectations​​.

Role of Additional Fields in Compliance:

These fields enhance traceability, accountability, and risk profiling, ensuring the CRA process is comprehensive and meets regulatory standards.

Advanced CAMS-Audit Guidance:

Documentation must be detailed and periodically reviewed to address evolving AML risks effectively, as recommended by CAMS-Audit guidelines​​.

Key Assessment Factors for AML Structure Changes:

Staffing levels ensure the AML department has adequate resources to meet its obligations, especially in light of new responsibilities or organizational changes​​.

Irrelevant Options:

A:Interaction with internal audit is important but not directly tied to structural changes.

C:Changes in board members are governance-related, not operational AML concerns.

D:Reporting lines are relevant but secondary to resource adequacy.

Testing Internal Controls:

C. Gap Analysis: Ensures policies are compliant with local regulations and address identified risks​​.

D. Sample Testing: Verifies that processes are effectively implemented in practice for both new and existing customers​​.