ACAMS CAMS Exam Questions 3
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?
A. Terminate the teller's (cashier's) employment prior to the expiration of the probation period.
B. An audit should be conducted for cash transactions since the last compliance review.
C. The branch manager should be formally reprimanded for failing to ensure proper instruction was given.
D. The teller's (cashier's) employment should be suspended with pay pending appropriate training.