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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?

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Suggested Answer: A

by Freeman at May 28, 2024, 06:22 PM

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Janey
4 months ago
Can we talk about how the branch manager was getting 'daily exception reports'? Talk about a paperwork nightmare!
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Elroy
2 months ago
I think suspending the teller with pay for training is a good initial action to take.
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Hyun
2 months ago
Maybe the branch manager should have been more proactive in ensuring the teller received proper training.
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Keena
3 months ago
I agree, it sounds like a lot of paperwork to keep track of.
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Leslee
3 months ago
That must have been overwhelming for the branch manager to receive daily exception reports.
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Alesia
4 months ago
Suspend the teller with pay? Sounds like a paid vacation to me! But hey, at least they're getting the training they need.
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Bonita
4 months ago
Reprimanding the branch manager? Nah, I think that's just passing the buck. The teller should be the one to get the training, no doubt about it.
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Jeniffer
4 months 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.
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Alyce
3 months ago
User 2
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Gilma
3 months ago
User 1
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Carisa
4 months 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.
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Alecia
4 months ago
But shouldn't the branch manager also be held accountable for not providing proper instruction?
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Lamonica
4 months ago
I agree with Harley. The teller needs training before continuing.
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Harley
4 months ago
I think the teller should be suspended with pay for now.
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