ACAMS
CAMS · Question #557
CAMS Question #557: Real Exam Question with Answer & Explanation
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Question
Suspicious activity triggered a suspicious transaction report filing on a company that holds an account at a large commercial bank. Investigations revealed that a member of the bank's Board of Directors is the major shareholder of the company. Further review revealed the bank had no reasonable explanation for the activity, but could not confirm if criminal activity occurred. Which of the following is the next best course of action for the compliance officer?
Options
- AInclude a detailed presentation of this case in the Board report.
- BPrevent the suspicious transaction report from government filing.
- CAsk the Board member to explain the transaction.
- DMaintain standard summary statistical reporting to the Board.
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