A financial institution (FI) is being investigated for possible money laundering. When cooperating with law enforcement agencies, which additional steps should the FI ensure are taken? (Choose two.)

Question

Options

• ACentralized control is maintained over all requests and responses to ensure completeness and
• BMake employees, including corporate officers, unavailable for interviews and refuse documents
• CSubpoenas and other information requests should be reviewed by senior management and an
• DAddress the document destruction policy to ensure the relevant documents are destroyed.
• EInquiries from the media are not answered directly, but rather are addressed by replying, "No

• A
  82% (27)
• B
  9% (3)
• D
  6% (2)
• E
  3% (1)

Explanation

When an FI is being investigated for possible money laundering, it is important that it cooperates with the law enforcement agencies (LEAs) in a professional and transparent manner. This means that the FI should take the following steps: Maintain centralized control over all requests and responses to ensure completeness and timely responses. This will help the FI to avoid duplication, inconsistency, or omission of information, as well as to track the status and progress of the requests and responses. It will also facilitate the communication and coordination between the FI and the LEAs, and demonstrate the FI's willingness to cooperate. Review subpoenas and other information requests by senior management and an investigations group or counsel. This will help the FI to assess the scope, relevance, and legality of the requests, as well as to identify any potential risks, conflicts, or sensitivities. It will also enable the FI to prepare and provide the requested information in an accurate and timely manner, and to seek clarification or negotiation if necessary.

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