The AML compliance officer of a financial institution (Fl) has been advised that the institution is being investigated by the country's financial intelligence unit (FIU). What should the AML compliance officer do? (Select Two.)

When a financial institution (FI) is under investigation by its Financial Intelligence Unit (FIU), the AML compliance officer has critical responsibilities. The officer must immediately inform senior leadership and the board of directors, as this is a significant event with potential legal, financial, and reputational implications. This aligns with the compliance officer's duty to keep senior governance bodies apprised of material compliance issues. Concurrently, the officer must meticulously manage the FI's response. This includes monitoring the investigation's progress by keeping clear, organized records of all communications, information requests from the FIU, and data provided by the institution. This ensures a coordinated, auditable, and professional response.

B. Share investigation results with other FIs to help them prepare. This action would breach confidentiality obligations and could be considered "tipping off," which is illegal in most jurisdictions and could obstruct the investigation.
D. Send an informative communication to all employees about the investigation. Broadly communicating an ongoing investigation to all staff is inappropriate, can cause panic, and risks compromising the confidentiality and integrity of the investigation.
E. Provide all information to the FIU as soon as possible to avoid delays. While cooperation is crucial, providing "all information" is overly broad. The FI should provide information specifically requested by the FIU, typically after review by legal counsel.

1. ACAMS CAMS6 Study Guide, 6th Edition. Chapter 3, "Compliance Standards for Anti-Money Laundering and Combating the Financing of Terrorism," Section: "Responding to Law Enforcement Investigations." This section details the need for a centralized, controlled process for responding to official inquiries, which involves logging requests, coordinating the response, and maintaining records. It also emphasizes the compliance officer's reporting line to senior management and the board on such critical matters.

2. Financial Action Task Force (FATF). FATF Recommendations (Updated October 2023). Recommendation 10 (Customer Due Diligence) and Recommendation 29 (Financial Intelligence Units). The interpretive notes emphasize that FIs must respond to information requests from competent authorities, including FIUs. The process for this response is expected to be managed and documented internally, a core function of the compliance officer.

3. The Wolfsberg Group. Statement on AML Screening, Monitoring, and Searching (2009). This document, while focused on monitoring, implicitly supports the principle of robust internal governance and record-keeping, stating, "A FI should maintain records of its monitoring activities and any resulting action." This principle extends to managing regulatory investigations. Page 5.