A director of a financial institution was convicted of laundering money as part of a Ponzi scheme and terminated. As a result of an internal investigation evidence proved that an employee assisted in the illegal activity.
Which action should the institution take?
A . Discipline the employee with no further action
B . Discipline the employee and inform local authorities
C . Since the employee was not charged, no further action is required
D . Require all employees to complete additional anti-money laundering training
Answer: B