What is primary con...
 
Notifications
Clear all

What is primary consideration the institution should keep in mind when deciding whether to agree to this request?

1 Posts
1 Users
0 Likes
58 Views
Mikel
(@palomamikel)
Noble Member
Joined: 7 months ago
Posts: 354
Topic starter  

An institution has made the decision to exit a client relationship due to anti-money laundering concerns. Prior to starting the close out process, the institution receives a written request from a law enforcement agency to keep the account open. The client is the subject of an ongoing investigation and law enforcement wants the institution to continue to monitor the account and report any suspicious activity.

What is primary consideration the institution should keep in mind when deciding whether to agree to this request?

  • A . The anticipated cost of complying with the law enforcement request
  • B . The number of suspicious transaction reports previously filed on the client
  • C . The fact that the institution has a solid record in complying with law enforcement requests
  • D . Whether the institution can continue to meet its regulatory obligations with the accounts open

Show Answer Hide Answer

Suggested Answer: D

   
Quote
Topic Tags
Share: