A law enforcement official calls a bank inquiring about a customer who is currently under investigation. The law enforcement official requests information about the customer. How should the bank…

The correct answer is D. Request a formal letter be submitted to verify the validity of the request. The bank should request a formal letter be submitted to verify the validity of the request, as this is the best practice to ensure compliance with the law and protect customer privacy. The bank should not confirm or deny the existence of a customer relationship, nor provide any…

Conducting and Responding to Investigations

Question

A law enforcement official calls a bank inquiring about a customer who is currently under investigation. The law enforcement official requests information about the customer. How should the bank respond?

Options

AConfirm the customer is either a current or former customer
BInform the board of directors before responding to the request
CProvide the requested information to help aid in the investigation
DRequest a formal letter be submitted to verify the validity of the request

How the community answered

(22 responses)

A
9% (2)
B
5% (1)
C
9% (2)
D
77% (17)

Explanation

The bank should request a formal letter be submitted to verify the validity of the request, as this is the best practice to ensure compliance with the law and protect customer privacy. The bank should not confirm or deny the existence of a customer relationship, nor provide any information without proper authorization. The bank should also not inform the board of directors before responding to the request, as this could compromise the confidentiality of the investigation or alert

Topics

#law enforcement requests#information disclosure#request verification#verbal inquiries

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