CAMS · Question #193
An account officer who maintains an excellent relationship with the finance manager for a correspondent bank customer learns that many records for the correspondent bank have been requested by law…
The correct answer is C. Limit discussions about the investigation with the customer and by satisfied that the account. the account officer should avoid disclosing any details of the investigation to the customer, as this could compromise the integrity of the law enforcement inquiry, or even constitute tipping off, which is a criminal offense in many jurisdictions. The account officer should…
Question
An account officer who maintains an excellent relationship with the finance manager for a correspondent bank customer learns that many records for the correspondent bank have been requested by law enforcement. In the interest of maintaining a good relationship with the customer, the account officer sets up a meeting to discuss the legal request with the customer. The account officer intends to discuss points related to the investigation during the meeting. What should an anti-money laundering specialist recommend?
Options
- ADiscuss all the points being investigated by law enforcement to ensure the correspondent bank is
- BLet the account manager's manager know what conversations have taken place with the
- CLimit discussions about the investigation with the customer and by satisfied that the account
- DCancelled the meeting as he has already behaved inappropriately by alerting to the investigation
How the community answered
(34 responses)- A3% (1)
- B3% (1)
- C85% (29)
- D9% (3)
Explanation
the account officer should avoid disclosing any details of the investigation to the customer, as this could compromise the integrity of the law enforcement inquiry, or even constitute tipping off, which is a criminal offense in many jurisdictions. The account officer should only inform the customer that a legal request has been made, and that the bank is obliged to comply with it, without revealing the nature or scope of the request. The account officer should also document the communication with the customer, and report it to the appropriate internal authority, such as the compliance officer or the legal department.
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