The AML compliance officer of a financial institution (Fl) has been advised that the institution is being investigated by the country's financial…

According to the Certified Anti-Money Laundering Specialist (CAMS) Sixth Edition manual, the AML

compliance officer should inform senior leadership and the board of the investigation (page 124) and

monitor the progress of the investigation by keeping clear records (page 127). Additionally, the AML

compliance officer should provide all information to the FIU as soon as possible to avoid delays (page

126).

According to the CAMS Manual, when a financial institution is being investigated by the financial

intelligence unit (FIU), the AML compliance officer should inform senior leadership and the board of

the investigation and monitor the progress of the investigation by keeping clear records. The manual

states:

"The AML compliance officer should inform senior leadership and the board of any investigations and

then monitor the progress of the investigation by keeping clear records of what has been requested

and submitted, deadlines and extensions granted, and any findings or reports received. This will

allow the financial institution to respond effectively and efficiently to the investigation and take

appropriate action if necessary." (CAMS Manual, Section 7.4.1 - Financial Intelligence Units, p. 366)