ACAMS
CAMS · Question #577
CAMS Question #577: Real Exam Question with Answer & Explanation
Sign in or unlock CAMS to reveal the answer and full explanation for question #577. The question stem and answer options stay visible for context.
Question
A financial institution in a jurisdiction with currency reporting thresholds is undergoing a branch office compliance review. A large number of currency transactions in amounts exceeding a reporting threshold were discovered without a currency transaction report (CTR) being filed. The transactions were handled by the same teller (cashier). This teller (cashier) was recently hired and had not received anti-money laundering training yet. The branch manager received daily exception reports of all large currency transactions as well as a report of all CTR filings. Which of the following should the compliance officer recommend as the initial action?
Options
- ATerminate the teller's (cashier's) employment prior to the expiration of the probation peri-od.
- BAn audit should be conducted for cash transactions since the last compliance review.
- CThe branch manager should be formally reprimanded for failing to ensure proper instruc-tion was
- DThe teller's (cashier's) employment should be suspended with pay pending appropriate training.
Unlock CAMS to see the answer
You've previewed enough free CAMS questions. Unlock CAMS for full answers, explanations, the timed quiz mode, progress tracking, and the master PDF. Question stem and options stay visible so you can still see what's on the exam.