CAMS · Question #79
Under which two circumstances may law enforcement be given access to a financial institution customer's financial records? (Choose two.)
The correct answer is B. If law enforcement serves a legal summons or subpoena D. If law enforcement has circumstantial evidence to suspect money laundering. Law enforcement may be given access to a financial institution customer's financial records if they serve a legal summons or subpoena, or if they have circumstantial evidence to suspect money laundering. These are two of the exceptions to the general rule that financial…
Question
Under which two circumstances may law enforcement be given access to a financial institution customer's financial records? (Choose two.)
Options
- AIf the person is named in a suspicious transaction report
- BIf law enforcement serves a legal summons or subpoena
- CIf the investigation of a customer is made public in the media
- DIf law enforcement has circumstantial evidence to suspect money laundering
How the community answered
(19 responses)- A5% (1)
- B79% (15)
- C16% (3)
Explanation
Law enforcement may be given access to a financial institution customer's financial records if they serve a legal summons or subpoena, or if they have circumstantial evidence to suspect money laundering. These are two of the exceptions to the general rule that financial institutions must protect the privacy of their customers' financial information under the Right to Financial Privacy Act (RFPA) of 1978. The RFPA also allows access to customer records in other situations, such as with the customer's consent, in response to judicial orders, or for certain intelligence or counterintelligence purposes.
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