Acams CAMS Exam - Topic 1 Question 67 Discussion

Actual exam question for Acams's CAMS exam

Question #: 67
Topic #: 1

[All CAMS Questions]

Which principle about safeguarding privacy and data should an auditor adhere to when performing an AML investigation?

ACountries should clarify where AML and Data Protection Privacy laws are not balanced.

BAML and Data Protection Privacy laws should not be mutually exclusive.

CDuring evidence gathering, privacy laws are less important than local AML laws.

DTerrorist financing is more relevant in the context of data protection and supersedes laws.

Show Suggested Answer

Suggested Answer: C, E

by Lawrence at Jan 22, 2024, 01:00 PM

Limited Time Offer

25%

Off

Get Premium CAMS Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Dorothy

4 months ago

Not sure about D, that sounds a bit extreme.

upvoted 0 times

...

Rosalind

4 months ago

Countries definitely need to clarify these laws.

upvoted 0 times

...

Isidra

4 months ago

Wait, are we really saying privacy laws are less important?

upvoted 0 times

...

Joesph

4 months ago

Totally agree, they shouldn't clash!

upvoted 0 times

...

Haley

4 months ago

I think option B makes the most sense.

upvoted 0 times

...

Annelle

5 months ago

I vaguely recall something about how local laws take precedence, but I don't think that means privacy laws are unimportant.

upvoted 0 times

...

Celestine

5 months ago

I think we had a practice question about balancing laws, and it pointed out that clarity is key, which might relate to option A.

upvoted 0 times

...

Lino

5 months ago

I'm not entirely sure, but I feel like privacy laws should always be respected, even during investigations.

upvoted 0 times

...

Jerry

5 months ago

I remember discussing how AML laws and data protection should work together, so I think option B makes sense.

upvoted 0 times

...

Roy

5 months ago

Terrorist financing is certainly an important consideration, but I'm not convinced it should supersede all data protection laws.

upvoted 0 times

...

Earleen

5 months ago

Hmm, I'm not sure if privacy laws are really less important than local AML laws. I'll need to think this through carefully.

upvoted 0 times

...

Genevieve

5 months ago

I think the key is to find a way for AML and data protection to work together, rather than treating them as mutually exclusive.

upvoted 0 times

...

Ellsworth

5 months ago

I'm a bit confused on this one. I'll need to review the relevant laws and regulations to determine the appropriate approach.

upvoted 0 times

...

Sunny

5 months ago

This is a tricky question. I'll need to carefully weigh the balance between AML laws and data protection privacy principles.

upvoted 0 times

...

Phillip

6 months ago

I'm pretty confident about this one. The question is asking if a 'Container Split' formatter is required between 'Container Start' and 'Container End', and the answer is False.

upvoted 0 times

...

Ben

6 months ago

I'm pretty sure this is asking about the COSO Internal Control Model, since it specifically mentions event identification, control activities, and risk response.

upvoted 0 times

...

Dorinda

10 months ago

I'm torn between B and C. Maybe the answer is 'B, but with a big asterisk next to it.'

upvoted 0 times

Sheron

9 months ago

User 3: Definitely, it's important to consider both when conducting an AML investigation.

upvoted 0 times

...

Sang

9 months ago

User 2: I agree, they shouldn't be mutually exclusive.

upvoted 0 times

...

Reuben

9 months ago

User 1: I think the key is to balance AML and Data Protection Privacy laws.

upvoted 0 times

...

Corinne

10 months ago

B is the way to go. Auditors need to balance AML and privacy - they shouldn't have to choose between them.

upvoted 0 times

Stephen

9 months ago

User 3: It's important for countries to clarify where the laws are not balanced.

upvoted 0 times

...

Melda

10 months ago

User 2: Definitely, they shouldn't have to choose between them.

upvoted 0 times

...

Natalya

10 months ago

User 1: I agree, auditors should balance AML and privacy laws.

upvoted 0 times

...

Tawny

11 months ago

D is just ridiculous. Terrorist financing doesn't trump data protection laws, that's absurd!

upvoted 0 times

Salley

10 months ago

C) During evidence gathering, privacy laws are less important than local AML laws.

upvoted 0 times

...

Josefa

10 months ago

B) AML and Data Protection Privacy laws should not be mutually exclusive.

upvoted 0 times

...

Kanisha

10 months ago

A) Countries should clarify where AML and Data Protection Privacy laws are not balanced.

upvoted 0 times

...

Lilli

11 months ago

I believe that during evidence gathering, privacy laws should still be respected, even if local AML laws are in place. It's crucial to protect individuals' privacy rights.

upvoted 0 times

...