CAMS · Question #638
Which action by a prospective customer during the account opening process requires further investigation?
The correct answer is B. Questioning reporting requirements. When a prospective customer questions reporting requirements during the account opening process, it may raise concerns about their intentions or understanding of anti-money laundering (AML) regulations. Financial institutions should investigate further to ensure compliance and…
Question
Which action by a prospective customer during the account opening process requires further investigation?
Options
- AProviding a driver's license
- BQuestioning reporting requirements
- CListing a long-distance phone number
- DExpressing knowledge of the financial industry
How the community answered
(47 responses)- A4% (2)
- B70% (33)
- C17% (8)
- D9% (4)
Explanation
When a prospective customer questions reporting requirements during the account opening process, it may raise concerns about their intentions or understanding of anti-money laundering (AML) regulations. Financial institutions should investigate further to ensure compliance and assess any potential risks associated with the customer's behavior.
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