A bank compliance officer discovers cash deposit activity inconsistent with the expected and historical cashactivity...

ACAMS CAMS Question Answer

A bank compliance officer discovers cash deposit activity inconsistent with the expected and historical cash

activity within the personal accounts of the chairman of the board. The cash activity appears structured to

avoid the local legal filing requirements for large cash transactions, and a suspicious transaction report (STR)

was filed.

How should the compliance officer report the filing of the STR to the board of directors without revealing the

existence of the filing to the subject?

Inform the legal counsel of the bank

Follow the financial institution’s established STR reporting policy

Notify the financial institution’s regulator to disclose the activity

The compliance officer and the chief executive officer should jointly interview the chairman

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