ACAMS
CAMS · Question #350
CAMS Question #350: Real Exam Question with Answer & Explanation
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Question
What is an example of a legal risk a financial institution (FI) could face if it is sanctioned for failure to report suspected fraud activity?
Options
- AForeign correspondents could terminate their relationships with the sanctioned bank.
- BClients of the bank might draw down the reserves of the bank and lead to liquidity issues.
- CThe bank could be forced to reimburse the victims of the fraudster for the losses suffered.
- DThe bank could see higher default rates on loans granted to companies owned by the fraudster.
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