A bank receives an anonymous tip from an employee about another employee through its confidential hotline.
Which activity warrants further review?
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A. B. C. D.B
The anonymous tip received by the bank through its confidential hotline warrants further review to assess the potential risk of money laundering or other financial crimes. The bank should follow its internal policies and procedures to investigate the tip and determine the appropriate course of action.
Out of the given activities, the one that warrants further review based on the information provided is option B - "An employee in bookkeeping accepts funds transfer requests from customers via telephone."
Accepting funds transfer requests from customers without proper verification and due diligence can pose a significant risk of money laundering or terrorist financing. This is because criminals often use third-party transfers or wire transfers to move illicit funds across borders and hide the source of the funds.
Therefore, it is important for banks to ensure that their employees are trained to identify suspicious transactions and follow the bank's policies and procedures to mitigate risks. The bank should review the employee's transactional history, investigate the customer's profile, and review the source of funds and purpose of the transfer to assess the potential risk of money laundering.
Option A - "A mortgage officer works with home loan applicants to resolve adverse credit issues" may also pose a risk of money laundering if the officer is involved in facilitating loans to individuals with suspicious backgrounds or if there are indications of falsified or fraudulent documents. However, based on the information provided, there is no indication of such activities.
Option C - "An employee in accounting works with customers to help understand how to reduce service charges" and option D - "A teller distributes bank brochures to customers who regularly conduct cash transactions below reporting limits" do not necessarily pose a risk of money laundering or other financial crimes.