During an advertising approval, a state compliance officer identifies an issue involving SAR escalation and anti-tipping rules. Which response is most compliant?
Correct Answer
A) Document the suspicious pattern for AML review
SAR rules require reporting or escalation of suspicious activity and prohibit tipping off subjects. The best answer is "Document the suspicious pattern for AML review".
Why This Is the Correct Answer
SAR rules require reporting or escalation of suspicious activity and prohibit tipping off subjects. The best answer is "Document the suspicious pattern for AML review".
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A compliance review finds that an outside party asks for borrower bank statements without a permissible basis. What should the MLO do next?
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During a branch onboarding review, a training manager identifies an issue involving SAR escalation and anti-tipping rules. Which response is most compliant?