In This Section
The following questions are representative of the types of questions you will find on the CAFP (Certified AML and Fraud Professional) exam.
A. Verification steps need to be deployed to validate all emails.
B. Outbound calls need to take place to prospective customers to verify any resulting activities.
C. A Fraud Risk Assessment needs to be performed to weigh risks and controls.
D. Closely monitor new fraudulent phishing activities targeting bank customers.
A. Employee vacation reviews
B. Monetary instrument log reviews
C. Monthly fraud loss MIS
D. Rule change controls to prevent inadvertent modifications
A. Data mapping; testing; alert generation; SAR reporting; customer risk rating
B. Number of dedicated BSA/AML employees; alert generation; SAR reporting; customer segmentation; data mapping
C. Identification of unusual activity; managing alerts; SAR decision-making; SAR filing and monitoring; SAR filing on continuing activity
D. SAR filing; customer segmentation; risk rating; managing alerts; data mapping
A. Independent auditors.
B. Board or a designated committee.
C. BSA Officer.
D. Bank President.
A. Perform periodic risk assessments and adjust the bank's authentication controls as necessary in response to changing internal and external threats.
B. Continue to rely on the current risk assessment since the FFIEC Guidance on Authentication of Customers only requires a one-time risk assessment.
C. Continue to rely on the existing risk assessment since it was completed within the last seven years.
D. Ask examiners during the next IT exam to review the risk assessment and advise if any changes are needed.
1. C
2. D
3. C
4. B
5. A
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