An AML specialist at a FI is presented with a search warrant. Which action should be taken to comply with the search? (Choose two.)
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When an AML specialist at a Financial Institution (FI) is presented with a search warrant, it is important to take appropriate actions to comply with the search while also protecting the interests of the FI. The following are two actions that should be taken:
Obtain a copy of the warrant or photocopy the original warrant: The AML specialist should obtain a copy of the search warrant or make a photocopy of the original warrant, which should be kept on file for record-keeping purposes. The warrant should be reviewed to determine the scope of the search, the items that can be seized, and the areas that can be searched. The AML specialist should ensure that the agents are conducting the search within the scope of the warrant and not exceeding its limits.
Record the names and affiliations of the agents who conduct the search: The AML specialist should record the names and affiliations of the agents who are conducting the search, including the agency that issued the warrant and the reason for the search. This information can be helpful in case any issues arise during the search, and can also help in identifying any potential biases or conflicts of interest.
The following actions should not be taken:
Remember what items the agents have seized and taken from the premise: While it is important to keep track of what items have been seized during the search, relying solely on memory is not sufficient. The AML specialist should maintain a record of what has been seized in writing, which can be used for future reference.
Leave the premises to allow the agents to conduct the search: It is important for the AML specialist to be present during the search to ensure that the agents do not exceed the scope of the warrant and to protect the interests of the FI.
Proactively ask the agents as many questions as time allows: While it is important to cooperate with the agents during the search, it is not appropriate to engage in any unnecessary conversation or questioning that could potentially interfere with the search or compromise the integrity of the investigation. The AML specialist should limit their communication with the agents to only what is necessary to ensure compliance with the search warrant.