CAMS · Question #150
An offshore company is owned by four equal partners that reside in separate jurisdictions. One partner presents an authenticated power of attorney apparently executed by the remaining three partners i
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Question
An offshore company is owned by four equal partners that reside in separate jurisdictions. One partner presents an authenticated power of attorney apparently executed by the remaining three partners in his favor and requests that a bank account be opened on behalf of all partners. He needs this done quickly because there is a large deposit pending. The account-opening officer contacts the bank's anti-money laundering officer for advice. Which of the following should the anti-money laundering officer advise as an initial step?
Options
- AVerify the identity of all the partners.
- BVerify the source of the deposit.
- CFile a suspicious transaction report with the appropriate Financial Intelligence Unit.
- DFile a suspicious transaction report with the Egmont Group.
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