ACAMS
CAMS · Question #833
CAMS Question #833: Real Exam Question with Answer & Explanation
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Question
A compliance officer at a large bank has been tasked with investigating a series of unusual transactions involving a long-time customer. The customer has made several large cash deposits into multiple accounts within a short period, raising red flags. After gathering and analyzing transaction data, reviewing customer records, and cross-referencing external sources, the compliance officer determines that there is a reasonable suspicion of money laundering. As part of documenting this investigation, the compliance officer must decide how and when to escalate the matter internally and whether to file a suspicious activity report (SAR). What is the next critical step in this process?
Options
- ADocument the customer's transaction history and keep the investigation confidential until further
- BImmediately escalate the case to senior management, recommending the closure of the
- CReport the investigation to external auditors and await further guidance before taking any action.
- DDraft a SAR that includes a detailed chronology of the transactions, customer background and the
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