Certified Anti-Money Laundering Specialist (#84)

An anti-money laundering officer for a financial institution has been conducting a monthly self-assessment. The officer reviews the accounts increase in compliance with a long standing know your Customer policy. The self-assessment for the latest month shows a significant increase in compliance deficiencies for the first time in more than a year. What is the nest course of action for the anti-money laundering officer to take?

Inform the Board of Directors promptly of the Know Your Customer policy trend over the last six months.
Determine if there is a readily identifiable cause for the deficiencies
Implement a revision to the account-opening training program
Revise the policy to simplify Know Your Customer compliance before the report is issued