ACAMS
CAMS · Question #547
CAMS Question #547: Real Exam Question with Answer & Explanation
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Question
An alert has been triggered by a monitoring system and an investigation has been opened. The activity involves significant and multiple cash deposits into a personal account and transferring funds to an offshore bank on the same day. Further investigation reveals this personal account had experienced low levels of activity for the past 6 months and funds are transferred to the account of a charitable organization. Which of the following is the next step that the Compliance Officer should take?
Options
- AProhibit further transactions with the charitable organization.
- BConduct enhanced due diligence on the charity's trustees.
- CPlace the charitable organization on the bank's internal "watchlist."
- DFile a suspicious transaction report with the competent authority.
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