ACCA Applied Skills · Corporate and Business Law (Global) · Fraudulent and criminal behaviour
Nadia, a bank employee, notices that a customer has deposited several large cash sums just below the reporting threshold on consecutive days. She suspects money laundering. What should Nadia do under typical international anti-money laundering rules?
Nadia should report her suspicion to the bank's money laundering reporting officer. The duty is triggered by suspicion, not proof, and she must not alert the customer, because tipping off is an offence and could prejudice any investigation.
- AReport her suspicion to the bank's nominated money laundering reporting officerCorrect
- BTell the customer that the transactions look suspicious so that he can explain them
- CWait until she has proof that the money comes from crime before reporting
Explanation
Staff must report suspicion, not proof, internally to the nominated officer, who decides whether to report to the authorities. Telling the customer risks the offence of tipping off. Waiting for proof is wrong because suspicion alone triggers the duty.
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