American Bankers Association CRCM Exam - Topic 2 Question 34 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 34
Topic #: 2

[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 Carin at May 04, 2022, 07:18 AM

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Caitlin

4 months ago

Not sure if reviewing policies is enough to mitigate penalties.

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Bulah

4 months ago

Wait, self-reporting right away? That sounds risky!

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Jin

4 months ago

Stopping all wires seems like a good immediate action too.

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Donette

4 months ago

I agree, understanding how it happened is key!

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Emile

5 months ago

Definitely need to review the OFAC wire policies first.

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Lindsey

5 months ago

This looks like a straightforward question, I should be able to figure this out.

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Iesha

5 months ago

Ah, I remember now! The -s option shows the network statistics, not the actual connections. That leaves A and B as the possible answers. I'm leaning towards A since it seems to provide the most comprehensive information.

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Mignon

5 months ago

Hmm, I'm not too familiar with Huawei server models. I'll have to think this through carefully.

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Jeannine

5 months ago

Okay, let's see. VPN is definitely one, that's a no-brainer. But the other one... I'm thinking maybe WPA2 since that's a common wireless security protocol. I'll go with those two.

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Nelida

5 months ago

This seems similar to a practice question we had on app types. I feel like it's leaning towards native, but I might be overthinking it.

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