Which of the following statement is true regarding personal bankers’ responsibilities in anti-money laundering?

The statement regarding personal bankers’ responsibilities in anti-money laundering that is true is that they are required to build trust while also ensuring compliance. Personal bankers play a vital role in managing client relationships, which involves establishing a rapport and building trust with clients to facilitate open communication. However, this relationship must be balanced with a strong commitment to compliance with anti-money laundering (AML) regulations.

In the context of AML, personal bankers must remain vigilant and proactive in identifying and reporting suspicious activities, regardless of the relationship they have developed with a client. This dual responsibility underscores the importance of trust in maintaining client accounts while also fulfilling legal obligations to prevent money laundering. Overall, the effective execution of both of these responsibilities is crucial for a banking institution's integrity and compliance posture.

The other statements do not accurately reflect the full scope of the personal banker’s role in AML. For example, limited interaction with clients contradicts the need for relationship building, and only monitoring transactions above a certain amount does not align with the expectation that bankers should also monitor lower amounts for suspicious activities. Additionally, the notion that bankers do not need to report transactions under $5,000 overlooks the requirement to report any suspicious transaction that may indicate criminal activity, regardless of the amount involved.