A compliance officer at a financial institution (FI) received an investigation request for a customer from a local law enforcement agency. Which action should be taken by the FI?
A.
Obtain approval from the Financial Intelligence Unit (FIU) before submitting the customer's information.
B.
Omit some responses to meet the regulatory deadline.
C.
Assign employees responsible for the customer to the investigation team.
D.
Consider retaining qualified, experienced legal counsel.
Most Votes
Answer:
A
User Votes:
A 25 votes
50%
B 1 votes
50%
C 26 votes
50%
D 32 votes
50%
Discussions
0/ 1000
Sorak
1 year, 4 months ago
D is correct
AnaA.
1 year, 4 months ago
A. Obtenez l'approbation de la Cellule de renseignement financier (CRF) avant de soumettre les informations du client.
AnaA.
1 year, 3 months ago
A. Obtenez l'approbation de la Cellule de renseignement financier (CRF) avant de soumettre les informations du client.
zahidgokal
1 year, 3 months ago
D is correct. Ref: ACAMS text book sixth edition page # 217, section Responding to a Law Enforcement Investigation Against a Financial Institution, Para 3, "The financial institution should consider retaining qualified, experienced legal counsel"
dionette_tayl
1 month, 3 weeks ago
D. Consider retaining qualified, experienced legal counsel.
HiNoT
4 weeks ago
d is correct if the investigation is against the FI but here instead is targeting a customer, which is a different case ... see P373 of v6.5
alban_999
5 days, 13 hours ago
Consider retaining qualified, experienced legal counsel as they can provide guidance on how to comply with the request while ensuring that the FI adheres to all relevant legal and regulatory requirements
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D is correct
A. Obtenez l'approbation de la Cellule de renseignement financier (CRF) avant de soumettre les informations du client.
A. Obtenez l'approbation de la Cellule de renseignement financier (CRF) avant de soumettre les informations du client.
D is correct. Ref: ACAMS text book sixth edition page # 217, section Responding to a Law Enforcement Investigation
Against a Financial Institution, Para 3, "The financial institution should consider retaining qualified, experienced legal counsel"
D. Consider retaining qualified, experienced legal counsel.
d is correct if the investigation is against the FI but here instead is targeting a customer, which is a different case ... see P373 of v6.5
Consider retaining qualified, experienced legal counsel as they can provide guidance on how to comply with the request while ensuring that the FI adheres to all relevant legal and regulatory requirements