CAMS Question #121: Real Exam Question with Answer & Explanation

The correct answer is A. It should turn over the documents that were previously collected to support the STR. According to the BSA/AML Manual, one purpose of filing SARs is to identify violations or potential violations of law to the appropriate law enforcement authorities for criminal investigation. Therefore, when an institution receives a document request from law enforcement with reg

Question

When an institution receives a document request from law enforcement with regard to an STR that the institution has filed, what should institution do?

Options

AIt should turn over the documents that were previously collected to support the STR
BIt should request a written subpoena or court order before turning over any documents
CIt should have its outside counsel review the request and the documents before doing anything
DIt should politely decline to provide the requested documents until the law enforcement agency

Explanation

According to the BSA/AML Manual, one purpose of filing SARs is to identify violations or potential violations of law to the appropriate law enforcement authorities for criminal investigation. Therefore, when an institution receives a document request from law enforcement with regard to an STR that the institution has filed, it should cooperate and provide the documents that were previously collected to support the STR. This will help the law enforcement agency to conduct its investigation and follow up on the suspicious activity reported by the institution. The institution should also maintain the confidentiality of the STR and the document request, and avoid tipping off the customer or any other person involved in the suspicious activity.

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