Exam CAMS Topic 1 Question 174 Discussion

The most important consideration when deciding whether to recommend closing the account is the institution's anti-money laundering policy. This is because the policy should provide clear and consistent criteria for account closure decisions, based on the risk assessment, the nature and severity of the suspicious activity, the customer due diligence information, and the legal and regulatory obligations of the institution.
The policy should also ensure that the account closure process is independent, objective, and transparent, and that it does not compromise the confidentiality of the suspicious transaction report or the investigation.
References: =
ACAMS Study Guide for the CAMS Certification Examination, 6th Edition, Chapter 5, Section 5.4.2, page 1971 ACAMS CAMS Certification Video Training Course, Module 5, Lesson 5.4, video time 9:00-10:302 ACAMS CAMS Certification Practice Exam, Question 145, page 2863