Michael, an insurance company employee, strongly suspects that a recent transaction involved money laundering but decides NOT to report his suspicions to anyone.
How is this treated under the current Money Laundering Regulations?
A . It is a disciplinary offence under the Banking Code.
B. It is a civil offence.
C. It is a criminal offence.
D. It is a disciplinary offence dealt with by the Money Laundering Joint Steering Committee.
Answer: D
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