ACAMS
CAMS · Question #257
CAMS Question #257: Real Exam Question with Answer & Explanation
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Question
A bank maintains a number of United States (U.S.) dollar correspondent accounts for foreign financial institutions. Upon a routine review of a U.S. dollar correspondent account owned by Foreign Bank A, a number of transactions appear to have been originated by Foreign Bank B outside the expected activity for this account. These transactions appear suspicious and a suspicious transaction report was filed by the compliance officer. Which step should the compliance officer take?
Options
- AFile a report with the appropriate tax authorities in the jurisdictions of Foreign Bank A and Foreign
- BNotify senior management of the money laundering risks by allowing Foreign Bank A to maintain
- CNotify Foreign Bank A of the discovery and seek documentation supporting Foreign Bank A was
- DNotify other U.S. financial institutions who maintain U.S. dollar correspondent accounts for
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