CAMS Exam Dumps | A bank in the Netherlands has been requested to share information about a series of transactions and

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Question 87/374

A bank in the Netherlands has been requested to share information about a series of transactions and related customers with a bank in Italy. Both banks are subject to European Union jurisdiction.
Which factor is the most important to consider before the Dutch bank shares the requested information with the Italian bank?

A. The Dutch bank's legal obligations to protect customer privacy and bank secrecy prohibit it from sharing any such information.

B. The Dutch bank should require a production order from the Italian bank and receive approval from its legal department before sharing the requested information.

C. The need to fight financial crime outweighs the EU's data protection and privacy regulations.

D. The Dutch bank should limit any information sharing to what is necessary, reasonable, and proportionate, in line with applicable laws and regulations.

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