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Which control is NOT included in the requirements established by the Monetary Authority of Singapore (MAS) for financial institutions in order to deter money-laundering and financial aid to terrorism (AML/CFT)?
Suggested Answer: A
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30 comments · newest first
FA
Fausto
11 months ago
Not sure about B, but it feels like it should be included.
CA
Carmen
11 months ago
A, C, and D are all essential controls.
TE
Terrilyn
12 months ago
Wait, sharing info with PDPC? That’s surprising!
HA
Hassie
12 months ago
I agree, B seems out of place here.
NO
Novella
1 year ago
B is definitely not a requirement.
MI
Millie
1 year ago
I feel like option B is the odd one out here, but I might be mixing it up with another regulation.
EL
Elden
1 year ago
Conducting regular reviews sounds familiar, but I can't recall if sharing personal info is really a requirement.
MA
Mammie
1 year ago
I remember a practice question that mentioned monitoring transactions, so I feel like that's definitely part of the requirements.
AL
Alesia
1 year ago
I think the MAS requirements definitely include knowing customers, but I'm not sure about sharing info with the PDPC.
KE
Kenneth
1 year ago
I remember covering the MAS AML/CFT requirements in my studies, so I think I have a good handle on this. I'll carefully consider each option and eliminate the ones that are clearly included in the requirements.
AL
Albina
1 year ago
Okay, let's think this through step-by-step. The question is asking which control is NOT included in the MAS requirements. Identifying and knowing customers, conducting regular reviews, and monitoring/reporting suspicious transactions are all typical AML/CFT controls, so I'll need to focus on the option that doesn't fit.
AV
Avery
1 year ago
Hmm, I'm a bit unsure about this one. The options all seem related to AML/CFT, so I'll need to carefully read through each one to determine which is not a requirement.
AN
An
1 year ago
This seems like a straightforward question about AML/CFT requirements in Singapore. I'll focus on identifying the control that is not included in the MAS requirements.
LA
Laurel
1 year ago
The PDPC? What is this, a crossover episode? B is clearly the odd one out, unless the MAS has a secret love for data protection authorities. I'll stick with the classic AML/CFT controls, thank you very much.
JA
Jaime
1 year ago
C) Conducting regular reviews of customer accounts.
CA
Carmela
1 year ago
B) Sharing personal information with the PDPC.
CH
Cheryl
1 year ago
A) Identifying and knowing customers.
MA
Marshall
1 year ago
Bingo, B is the answer. The MAS cares about knowing your customers, monitoring transactions, and reporting suspicious activity - not about sharing data with other agencies. Gotta keep that customer info under lock and key!
JA
Janey
1 year ago
Hah, B is obviously the wrong answer here. The MAS would never ask institutions to share personal info with the PDPC for AML/CFT. They're more interested in the customers themselves, not the regulators!
GE
Gertude
1 year ago
B is the odd one out for sure. I can't imagine the MAS would require financial institutions to share customer data with the PDPC as part of their AML/CFT measures. Seems like a bit of a trick question.
LA
Laila
1 year ago
D) Monitoring and reporting suspicious financial transactions.
LA
Lasandra
1 year ago
C) Conducting regular reviews of customer accounts.
ZE
Zena
1 year ago
A) Identifying and knowing customers.
SH
Sherita
1 year ago
Ah, question B definitely seems out of place. Sharing personal information with the PDPC doesn't sound like an AML/CFT requirement. The other options all seem relevant to me.
FA
Fannie
1 year ago
C) Conducting regular reviews of customer accounts.
DE
Deonna
1 year ago
B) Sharing personal information with the PDPC.
PA
Paulene
1 year ago
A) Identifying and knowing customers.
DE
Deangelo
2 years ago
I disagree. I believe the answer is C) Conducting regular reviews of customer accounts because it is not specifically mentioned in the requirements by MAS.
GR
Gracie
2 years ago
I agree with Walker. Sharing personal information with the PDPC is not a requirement for AML/CFT.
WA
Walker
2 years ago
I think the answer is B) Sharing personal information with the PDPC.