CGSS - REVIEW QUESTIONS WITH COMPLETE ANSWERS 2025.

CGSS - REVIEW QUESTIONS WITH
COMPLETE ANSWERS 2025.



Sanctions Due Diligence (SDD) - ANSWER: establishing the identity of the customer
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and determining the customer's beneficial ownership and controlling influences.
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Sanctions due diligence is driven by: - ANSWER: sanctions regimes and governance
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A sanctions compliance program is generally comprised of two components: -
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ANSWER: The board of directors
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"three lines of defense" bb bb bb




"three lines of defense" - ANSWER: Business line
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Sanctions Compliance bb



Internal Audit bb




Business Line of Defense or "Front Line" - ANSWER: includes relationship managers
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and other customer facing employees.
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Sanctions Compliance Line of Defense - ANSWER: Sanctions Compliance Officer
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(SCO) is responsible for ongoign monitoring for sanctions compliance, including
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sample testing and a review of exception reports.
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Dual control - ANSWER: at least two employees are required in order to complete an
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internal control task. ("maker-checker" or "four-eyes")
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Internal Audit Line of Defense - ANSWER: (the same as the testing and auditing step,
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per the OFAC guidance), which involves independent reviews of the controls applied
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by the first two lines of defense.
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