Discuss Acams Advanced-CAMS-Audit Exam Topic 2 Question 31

Which should the external auditor recommend to ensure that the institution did not facilitate transactions involving a sanctioned person?

ARe-screen all transactions over the period of time when the updated sanction lists were not uploaded against the current sanctions lists.

BPerform a security risk and access assessment on the sanction screening tool to ensure more timely sanctions lists are uploaded.

CRe-screen all transactions based on the sanctions lists that were active at that time but not uploaded.

DPeriodically monitor the sanctions lists uploaded by the screening tool to ensure the most up-to-date lists are in the system.
Recommended Action:
Re-screening ensures compliance with sanctions and identifies potential violations retrospectively. This is a critical regulatory requirement for addressing gaps in screening coverage.
FATF and Basel Guidelines:
Emphasize retrospective reviews in cases of system lapses to maintain the integrity of the sanctions compliance program.

Suggested Answer: A

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26 comments · newest first

Mirta 2 days ago

D helps prevent future issues. Keeping lists updated is vital.

Bernardo 7 days ago

A ensures we catch everything missed. Compliance is crucial.

Laurel 12 days ago

I feel option C is too limited. It only looks at past lists.

Matthew 17 days ago

Option B makes sense too. Security assessments are important.

Ailene 23 days ago

I prefer option D. Regular monitoring is key.

Fausto 28 days ago

I think option A is the best. It covers all transactions.

Claribel 1 month ago

D is practical. Keeping lists updated avoids future issues.

Eveline 1 month ago

A ensures we catch everything missed. It's thorough.

Cheryll 1 month ago

B is crucial for future prevention. We need timely updates.

Tammi 2 months ago

C seems reasonable too, but it only looks back at active lists.

Johnna 2 months ago

I prefer D. Regular monitoring is key to staying compliant.

Margurite 2 months ago

I think option A is the best. It covers all transactions during the lapse.

Laquita 2 months ago

B) could help prevent this from happening again, but is it enough?

Dean 2 months ago

Wait, how did they not upload the lists in the first place?

Janella 2 months ago

Totally agree with A), better safe than sorry!

Kattie 3 months ago

I disagree, D) is more proactive for future compliance.

Lisbeth 3 months ago

A) seems like the safest bet to catch any missed transactions.

Lettie 3 months ago

Totally agree with A), we can't afford any slip-ups!

Kizzy 3 months ago

C) seems risky, what if the lists were outdated?

Terina 3 months ago

B) makes sense, but how often do they really update those lists?

Cecily 4 months ago

I think D) is more practical for ongoing monitoring.

Ernest 4 months ago

A) is definitely the safest bet for compliance.

Christiane 4 months ago

I’m leaning towards option A, but I’m a bit confused about whether it’s better to focus on the time when the lists weren’t uploaded or just to monitor the current lists.

Mila 4 months ago

I feel like we practiced a similar question about sanctions compliance, and I think re-screening all transactions is crucial to identify any violations.

Samira 4 months ago

I think option D makes sense because it emphasizes ongoing monitoring, but I wonder if it’s enough on its own without re-screening past transactions.

Myra 6 months ago

I remember we discussed the importance of re-screening transactions, but I'm not sure if it should be based on the current lists or the ones that were active at the time.

Acams Advanced-CAMS-Audit Exam - Topic 2 Question 31 Discussion