Discuss Acams CKYCA Exam Topic 4 Question 12

Once a banking KYC analyst applies CDD onboarding procedures and builds a customer risk profile, ongoing monitoring needs to be implemented for the primary purpose of:

Aunderstanding the nature and purpose of the customer relationship.

Bfulfilling senior management's obligations.

Ccomplying with bank's internal policies and procedures.

Didentifying and reporting suspicious transactions.

Suggested Answer: D

The primary purpose of ongoing monitoring after CDD is to detect unusual or suspicious activity that may indicate money laundering, terrorism financing, or other illicit behavior, so it can be reported promptly to the relevant authorities.

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15 comments · newest first

Flo 3 months ago

Overall, I lean towards D. We need to catch any suspicious activity.

Ceola 3 months ago

I feel like option C is important for internal policies.

Brandon 3 months ago

True, but ongoing monitoring is also about compliance, right?

Julianna 3 months ago

But what about option D? Reporting suspicious transactions is crucial.

Jimmie 4 months ago

I agree, option A makes the most sense.

Jacklyn 4 months ago

I think it's about understanding the customer relationship.

Na 4 months ago

B is important too, but it feels like a secondary concern compared to D.

Vanesa 4 months ago

Wait, are we really monitoring for suspicious activity all the time? Sounds intense!

Dorothea 4 months ago

C seems a bit too bureaucratic, but I guess it's necessary.

Vincenza 6 months ago

I think A is just as important, understanding the relationship is key.

Leana 6 months ago

Definitely D, gotta catch those suspicious transactions!

Tawanna 6 months ago

I feel like fulfilling senior management's obligations is important too, but it seems more like a byproduct of the monitoring process rather than the primary purpose.

Melita 7 months ago

I practiced a similar question before, and I remember that compliance with internal policies is crucial, but I feel like that's more of a secondary goal.

Chaya 7 months ago

I'm not entirely sure, but I remember something about understanding the nature of the customer relationship being important, which makes me consider A.

Franklyn 7 months ago

I think the main goal of ongoing monitoring is to identify and report suspicious transactions, so I would lean towards D.

Acams CKYCA Exam - Topic 4 Question 12 Discussion