CAMS · Question #86
A bank receives an anonymous tip from an employee about another employee through its confidential hotline. Which activity warrants further review?
The correct answer is D. A teller distributes bank brochures to customers who regularly conduct cash transactions below. The activity of a teller distributing bank brochures to customers who regularly conduct cash transactions below reporting limits warrants further review. This is because the teller may be facilitating or encouraging structuring, which is a form of money laundering that involves…
Question
A bank receives an anonymous tip from an employee about another employee through its confidential hotline. Which activity warrants further review?
Options
- AA mortgage officer works with home loan applicants to resolve adverse credit issues
- BAn employee in bookkeeping accepts funds transfer requests from customers via telephone
- CAn employee in accounting works with customers to help understand how to reduce service
- DA teller distributes bank brochures to customers who regularly conduct cash transactions below
How the community answered
(22 responses)- A5% (1)
- C9% (2)
- D86% (19)
Explanation
The activity of a teller distributing bank brochures to customers who regularly conduct cash transactions below reporting limits warrants further review. This is because the teller may be facilitating or encouraging structuring, which is a form of money laundering that involves breaking down large amounts of cash into smaller transactions to avoid detection or reporting requirements. Structuring is illegal and can expose the institution and the employee to civil or criminal penalties. The teller may also be acting as an agent or a recruiter for money launderers who use the bank's services to launder their illicit funds.
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