A bank maintains a number of United States (U.S.) dollar correspondent accounts for foreign financial institutions. Upon a routine review of a U.S. dollar correspondent account owned by Foreign Bank A, a number of transactions appear to have been originated by Foreign Bank B outside the expected activity for this account. These transactions appear suspicious and a suspicious transaction report was filed by the compliance officer.
Which step should the compliance officer take?
A . File a report with the appropriate tax authorities in the jurisdictions of Foreign Bank A and Foreign Bank B
B . Notify senior management of the money laundering risks by allowing Foreign Bank A to maintain its
D . dollar correspondent account
E . Notify Foreign Bank A of the discovery and seek documentation supporting Foreign Bank A was collusive and a willing partner with Foreign Bank B in the activity
F . Notify other
H . financial institutions who maintain
. dollar correspondent accounts for Foreign Bank A and Foreign Bank B in an effort to shut down the activity
Answer: C
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