Acams Exam CAMS Topic 2 Question 76 Discussion

Actual exam question for Acams's CAMS exam

Question #: 76
Topic #: 2

[All CAMS Questions]

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?

ATerminate the teller's (cashier's) employment prior to the expiration of the probation peri-od.

BAn audit should be conducted for cash transactions since the last compliance review.

CThe branch manager should be formally reprimanded for failing to ensure proper instruc-tion was given.

DThe teller's (cashier's) employment should be suspended with pay pending appropriate training.

Show Suggested Answer

Suggested Answer: A

by Freeman at May 28, 2024, 06:22 PM

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Janey

2 months ago

Can we talk about how the branch manager was getting 'daily exception reports'? Talk about a paperwork nightmare!

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Elroy

20 days ago

I think suspending the teller with pay for training is a good initial action to take.

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Hyun

22 days ago

Maybe the branch manager should have been more proactive in ensuring the teller received proper training.

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Keena

1 months ago

I agree, it sounds like a lot of paperwork to keep track of.

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Leslee

1 months ago

That must have been overwhelming for the branch manager to receive daily exception reports.

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Alesia

2 months ago

Suspend the teller with pay? Sounds like a paid vacation to me! But hey, at least they're getting the training they need.

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Bonita

2 months ago

Reprimanding the branch manager? Nah, I think that's just passing the buck. The teller should be the one to get the training, no doubt about it.

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Jeniffer

2 months ago

An audit is definitely the way to go. Gotta make sure those transactions are legit and not part of some shady money laundering scheme.

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Alyce

1 months ago

User 2

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Gilma

1 months ago

User 1

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Carisa

2 months ago

Yikes, that teller really dropped the ball! But terminating them right away seems a bit harsh, especially since they haven't had the training yet.

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Alecia

2 months ago

But shouldn't the branch manager also be held accountable for not providing proper instruction?

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Lamonica

2 months ago

I agree with Harley. The teller needs training before continuing.

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Harley

3 months ago

I think the teller should be suspended with pay for now.

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