Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions

Acams Exam CAMS Topic 2 Question 76 Discussion

Actual exam question for Acams's CAMS exam
Question #: 76
Topic #: 2
[All CAMS Questions]

A financial institution in a jurisdiction with currency reporting thresholds is undergoing a branch office compliance review. A large number of currency transactions in amounts exceeding a reporting threshold were discovered without a currency transaction report (CTR) being filed. The transactions were handled by the same teller (cashier). This teller (cashier) was recently hired and had not received anti-money laundering training yet. The branch manager received daily exception reports of all large currency transactions as well as a report of all CTR filings. Which of the following should the compliance officer recommend as the initial action?

Show Suggested Answer Hide Answer
Suggested Answer: A

Contribute your Thoughts:

Jeniffer
5 days ago
An audit is definitely the way to go. Gotta make sure those transactions are legit and not part of some shady money laundering scheme.
upvoted 0 times
...
Carisa
6 days ago
Yikes, that teller really dropped the ball! But terminating them right away seems a bit harsh, especially since they haven't had the training yet.
upvoted 0 times
...
Alecia
7 days ago
But shouldn't the branch manager also be held accountable for not providing proper instruction?
upvoted 0 times
...
Lamonica
9 days ago
I agree with Harley. The teller needs training before continuing.
upvoted 0 times
...
Harley
16 days ago
I think the teller should be suspended with pay for now.
upvoted 0 times
...

Save Cancel