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Acams CAMS Exam - 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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Brittni
4 months ago
An audit is definitely needed to see the full picture here.
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Kati
4 months ago
Wait, how did the branch manager not notice this sooner?
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Yuonne
4 months ago
Terminating the teller seems too harsh without proper training first.
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Delmy
4 months ago
I agree, suspending with pay seems fair until they get trained.
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Cherry
4 months ago
Sounds like a training issue more than a firing one.
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Latrice
5 months ago
I think an audit is necessary, but I wonder if that should be the first step. Option B might be too reactive when we need to address the training issue first.
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Regenia
5 months ago
I’m a bit confused about whether terminating the teller's employment is too harsh without giving them a chance to learn. Option A seems extreme to me.
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Alona
5 months ago
I feel like we had a similar practice question where the focus was on accountability. Maybe option C could be a valid choice since the branch manager should have ensured training was provided.
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Keena
5 months ago
I remember we discussed the importance of training for new hires, so I think option D makes sense, but I'm not sure if suspension is the right approach.
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Sheron
5 months ago
I'm a bit torn on this one. Terminating the teller's employment might be justified, but suspending them with pay for training seems like a more reasonable first step. I'll need to weigh the options carefully.
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Pansy
5 months ago
The branch manager definitely dropped the ball here. I'd recommend formally reprimanding them for the lack of oversight. That should send a clear message that this kind of thing can't be tolerated.
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Marjory
5 months ago
Okay, so we have a new teller who didn't know the proper procedures, and a branch manager who didn't ensure they were properly trained. I think an audit is a good idea to get a full picture of what's been happening.
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Linwood
5 months ago
Hmm, terminating the teller's employment right away seems a bit harsh, especially since they haven't received the necessary training yet. I'm leaning more towards the suspension with pay option.
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Xuan
5 months ago
This seems like a tricky situation. I'll need to carefully consider the options and the potential consequences of each one.
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Cherrie
6 months ago
I'm not too familiar with Alcatel-Lucent routers, so I'll have to think this through carefully.
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Henriette
6 months ago
Hmm, I'm a bit unsure about this one. The question is asking what the administrator should check next, but the options don't seem directly related to disk utilization. I'll need to think this through carefully.
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Refugia
6 months ago
Okay, let's see. The key here is to identify the main risk concerns when a cloud provider is acquired. I think I've got a good strategy for this.
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Janey
11 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
9 months ago
I think suspending the teller with pay for training is a good initial action to take.
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Hyun
10 months ago
Maybe the branch manager should have been more proactive in ensuring the teller received proper training.
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Keena
10 months ago
I agree, it sounds like a lot of paperwork to keep track of.
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Leslee
10 months ago
That must have been overwhelming for the branch manager to receive daily exception reports.
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Alesia
11 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
11 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
11 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
10 months ago
User 2
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Gilma
10 months ago
User 1
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Carisa
11 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
11 months ago
But shouldn't the branch manager also be held accountable for not providing proper instruction?
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Lamonica
11 months ago
I agree with Harley. The teller needs training before continuing.
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Harley
12 months ago
I think the teller should be suspended with pay for now.
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