An anti-money laundering specialist at a financial institution has received a legal request to provide all transaction records for a specific individual since 2004. Which of the following item s…

Question

Options

• A1, 2, and 3 only
• B1, 2, and 4 only
• C1, 3, and 4 only
• D2, 3, and 4 only

• A
  3% (1)
• B
  76% (26)
• C
  6% (2)
• D
  15% (5)

Explanation

According to the CAMS study guide, chapter 4, page 1191, transaction records include any records that reflect the movement of funds or assets, such as wire transfers, checks, deposits, withdrawals, securities trades, etc. Therefore, items 1, 2, and 4 are examples of transaction records that should be delivered in response to a legal request. Item 3, signature cards, are not transaction records, but rather account opening documents that contain the customer's name, address, identification, and signature. These documents may be relevant for customer due diligence or identification purposes, but they do not reflect the transaction activities of the

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