CAMS Exam Dumps | Suspicious activity triggered a suspicious transaction report filing on a company that holds an account

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Question 77/292

Suspicious activity triggered a suspicious transaction report filing on a company that holds an account at a large commercial bank. Investigations revealed that a member of the bank's Board of Directors is the major shareholder of the company. Further review revealed the bank had no reasonable explanation for the activity, but could not confirm if criminal activity occurred. Which of the following is the next best course of action for the compliance officer?

A. Include a detailed presentation of this case in the Board report.

B. Prevent the suspicious transaction report from government filing.

C. Ask the Board member to explain the transaction.

D. Maintain standard summary statistical reporting to the Board.

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