CAMS Exam Dumps | A school teacher recently opened a private banking account with a major bank. The customer indicated

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Question 238/263

A school teacher recently opened a private banking account with a major bank. The customer indicated annual income of EUR 45,000 and listed her source of wealth as a EUR 1.5 million inheritance from relatives. The customer plans to invest EUR 12,000 to 15,000 earned annually from bearer bonds. The relationship manager verified the client's identity and documented all of the above information in the account file before opening the account. During a routine review of the account, several electronic fund transfers in excess of EUR 5 million each were made from a diamond distributor. The relationship manager also noticed that in each instance, the customer immediately transferred the funds to bank accounts in Hong Kong. Which of the following is appropriate for the anti-money laundering specialist to recommend?

A. Arrange a meeting between the customer and legal department.

B. Contact the competent authority and local law enforcement.

C. Suspend further customer transactions through the bank.

D. Investigate the source and purpose of the transactions.

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