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Question 1

Law enforcement (LE) suspects human trafficking to occur during a major sporting event. LE officers asked several financial institutions (FIs) to monitor financial transactions occurring before, during, and after the event.
An investigator identified a pattern linked to a business. The business ' account received multiple even dollar deposits between midnight and 4:00 AM. They occurred each day for several days prior to the date of the sporting event. Also, large cash deposits, typically between 2,000 USD and 3,000 USD. made by a person to the business ' account occurred in many branches in the days after the sports event.
There was little information about the company. The company did not have any history of employee payroll expenses or paying taxes. Expenses from the business account included air travel and hotel expenses. Searches about the person making cash deposits showed little. An online social media platform webpage with the individual ' s name showed ads for dates " and " companionship. "
The Fl receives a keep open ' letter from LE for the identified account and agrees to keep the account open. What is the Fl required to do?

A

Contact the client for information relating to the account.

B

Stop filing SAR/STR reports on the account and/or customer.

C

Ensure that the request includes an end date.

D

Notify LE immediately after new transactions.

Correct Answer: C

Explanation:

The FI is required to ensure that the request includes an end date © when it receives a keep open letter from LE for the identified account. This is because the FI has to balance its legal obligations to cooperate with LE and to protect its customers’ privacy and rights. According to the ACAMS Advanced Financial Crimes Investigations Certification Study Guide1, “the FI should request a written confirmation from LE that includes a specific end date for the request, as well as a point of contact for any questions or concerns” (p. 35). The FI should also document the request and its compliance with it, and continue to monitor the account for any suspicious activity.
The other options are not correct. The FI should not contact the client for information relating to the account (A), as this could compromise the LE investigation or alert the client of the suspicion. The FI should not stop filing SAR/STR reports on the account and/or customer (B), as this could violate its regulatory obligations and expose it to legal risks. The FI should not notify LE immediately after new transactions (D), as this could also interfere with the LE investigation or tip off the client. The FI should follow the instructions of LE regarding when and how to share information.

Question 2

Which is the first valid step in the Mutual Legal Assistance Treaties international cooperation process?

A

The investigator may remove the evidence collected without asking permission to do so.

B

The central authority of the requesting country sends a letter of request to the central authority of the other country.

C

An investigator from the requesting country visits the country where the information is sought and takes statements from the identified witnesses or suspects.

D

The central authority that receives the request sends it to a local judicial officer to find out if the information is available.

Correct Answer: B

Explanation:

The first valid step in the Mutual Legal Assistance Treaty (MLAT) international cooperation process is for the central authority of the requesting country to send a letter of request to the central authority of the other country. The letter of request should provide a summary of the facts and information required, the reasons for the request, and any specific legal or procedural requirements that need to be met. (CAMS Manual, 6th Edition, Page 233).

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