Question 1
(Topic 1)
Why is it important to use multiple sanctions lists, such as United Nations (UN), Office of Foreign Assets Control ("OFAC"), and European Union ("EU") lists, in name screening systems? Reveal Solution Hide Solution Discussion Correct Answer: C 🗳️
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- ○ To avoid sanctions breach related to payments
- ○ To avoid onboarding customers previously exited due to true match
- ○ To meet international regulatory requirements and identify risks across jurisdictions
- ○ To be in line with the risk appetite statement
