According to the Financial Action Task Force (FATF) Recommendation regarding "tipping off," which of the following statements accurately describes the obligations of reporting entities?
A.
Reporting entities are prohibited from disclosing to clients or third parties that a suspicious activity report (SAR) has been filed or that an investigation is ongoing
B.
Reporting entities can share general information about suspicious activities internally within the organization without compromising confidentiality
C.
Reporting entities must inform their clients if a suspicious activity report (SAR) has been filed, as part of maintaining transparency in customer relations
D.
Reporting entities are allowed to discuss suspicious activities with clients if it helps clarify a situation before submitting a suspicious activity report
According to FATF Recommendations, reporting entities are strictly prohibited from disclosing to clients or third parties that a suspicious activity report (SAR) has been filed or that an investigation is ongoing. This prohibition, known as "tipping off," is designed to preserve the integrity of investigations and prevent suspects from taking evasive actions.
Contribute your Thoughts:
Chosen Answer:
This is a voting comment (?). You can switch to a simple comment. It is better to Upvote an existing comment if you don't have anything to add.
Submit