Free ACAMS CAMS Actual Exam Questions s - Question 8 Discussion

C Sharing info depends a lot on privacy laws, regardless of due diligence or account status. If rules don’t allow it, the bank can’t just pass details along to their broker-dealer affiliate.

It’s D because even if both institutions want to share info, it matters if they actually have a relationship with the customer, like having an account or setting one up. Sharing details about someone who isn’t a client could raise issues. The question’s about investigation, so knowing the customer connection is essential before sharing anything sensitive. This seems like a basic but critical step before considering due diligence or privacy rules.

It’s A because the broker-dealer needs to trust the bank’s findings first, so they can decide how to proceed with the investigation. Without relying on due diligence, sharing info might be pointless or risky.

It’s C because data privacy laws strictly control info sharing, even between affiliates, so the bank must check if sharing is allowed before anything else. That’s a hard requirement regardless of due diligence or account status.

It’s A because the bank needs to ensure the broker-dealer can use the info confidently without repeating checks, which matters during investigations to prevent gaps or mistakes.

Maybe A makes sense here since the bank should check if the broker-dealer can trust the due diligence already done, avoiding redundant work. It’s about efficiency and responsibility, not just legal rules.

It’s C because privacy rules are key before sharing customer info with affiliates.

C