Which factor causes the compliance officer to update the bank’s risk assessment?

A new compliance officer is reviewing the bank’s anti-money laundering program and notices that the risk assessment was completed six months ago. Since that time, the bank acquired another financial institution, re-named the internal records group, and streamlined cash handling procedures.

Which factor causes the compliance officer to update the bank’s risk assessment?
A . The bank acquired another institution
B . The internal records group has been re-named
C . The cash handling procedures were streamlined
D . The risk assessment was completed six months ago

View Answer

Answer: A