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Question No 1

The auditor identifies that the bank launched trade finance services this year. The target clients are multinational companies who actively support China's belt and road initiatives. Which scoring themes would be affected? (Select Two.)

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Question No 2

The auditor identifies that the bank has launched trade finance services this year. When rating the various themes of the risk mitigants, which are expected to be impacted by the launch of these services? (Select Three.)

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M1.1

M1.2

M2.1

M3.2

M4.2

M5.2

Question No 3

Following completion of testing and tuning of the parameters and thresholds of the transaction monitoring model which final step should the team recommend as necessary to verify effective model functioning?

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Question No 4

What model test verifies that alerts indicative of potentially suspicious activity are not missed due to threshold settings?

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Question No 5

Which recommendation should the audit team provide to address transaction monitoring (TM) issues?

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Switch off those detection scenarios that are producing too many false positives.

Apply the same thresholds across all client types to ensure alignment of risk coverage.

Perform a coverage assessment of the current suite of TM detection scenarios against the bank's money laundering and terrorist financing risks

Provide training for first - line staff on how to review and disposition TM alerts.

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