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A compliance officer is looking to update an institution's private bank procedures. What should be included as recommended by the Wolfsberg AML Principles on Private Banking?
Suggested Answer: A
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9 comments · newest first
TI
Tiera
1 year ago
Wait, are we really still debating PEP approvals? I thought that was standard!
MI
Mitsue
1 year ago
Senior management should always take responsibility, no doubt about that!
WY
Wynell
1 year ago
Not sure about the annual review for unusual transactions... seems excessive?
KA
Katina
1 year ago
I think automated AML monitoring is a must too.
ER
Ernestine
1 year ago
Definitely need PEP approval from someone else!
WI
Wilbert
1 year ago
Convertible Reserved Instances seem like the way to go. They allow you to change instance types within the same family, which meets the requirement, and they're generally more cost-effective than On-Demand.
ST
Stacey
1 year ago
This seems like a tricky question. I'll need to carefully consider the requirements and think through the different options.
VE
Veronique
1 year ago
I think VXLAN is the best option here. It's a widely adopted standard for network virtualization and can handle multiple payload types.
TE
Teddy
1 year ago
I'm not sure, honestly. Last week, I mixed up the flash drive arrays with memory categories. I hope this isn't one of those trick questions!