American Bankers Association CRCM Exam - Topic 10 Question 122 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 122
Topic #: 10

[All CRCM Questions]

The BSA officer has just been notified by the chief operations officer that, due to a glitch in the bank's OFAC interdiction software, wires have been regularly transmitted to a bank on the SDN list. Based on the OFAC Enforcement Guidance, what should the BSA Officer do FIRST to attempt to mitigate any penalties?

AReview the OFAC wire policies and procedures to determine how the errors occurred

BStop and hold all wires to the bank on the SDN list

CInvestigate the customer who sends these wires

DSelf-report the activity to OFAC

Show Suggested Answer

Suggested Answer: B

by Tegan at Mar 04, 2026, 09:01 AM

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Aileen

1 day ago

I think stopping the wires is the most urgent step!

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Glenn

6 days ago

Definitely need to review the OFAC policies first.

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Julio

11 days ago

I think investigating the customer who sends the wires could be important, but it might not be the first thing to do. I feel like we need to address the software issue first.

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Francene

17 days ago

I remember a practice question where self-reporting was emphasized. It seems like a good option, but I wonder if we should investigate first to gather more information.

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Timmy

22 days ago

I’m not entirely sure, but I feel like stopping and holding all wires to the SDN bank might be the safest immediate action. We can't risk further violations, right?

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Anika

27 days ago

I think the first step should be to review the OFAC wire policies and procedures. It’s important to understand how the glitch happened before taking further action.

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