Which step should an institution located in this jurisdiction take to ensure compliance?

A government has instituted a new anti-money laundering laws which require all financial institutions to obtain certain information from its customers.

Which step should an institution located in this jurisdiction take to ensure compliance?
A . Change procedures to require that the necessary information is obtained
B . Change procedures and systems as necessary and provide employee training
C . Send a notice to customers asking them to provide the necessary information
D . Change systems to ensure the required information is automatically obtained from all customers

View Answer

Answer: B