What should the bank do?

A customer comes into a financial institution and deposits a large amount of cash. He has never done that before. When asked about the deposit, he indicates he recently sold a used car and received cash.

He does not trust forms of payment and is wary of counterfeit money orders.

What should the bank do?
A . The bank has received a plausible explanation, so it should do nothing
B. While the explanation appears plausible, the institution should, for a period of time, monitor the account for cash transactions and suspicious activity
C. While the explanation may be plausible, the institute should nonetheless file a Suspicious Transaction Report to protect itself
D. The institution should close the account before another issues arise

View Answer

Answer: B