American Bankers Association Exam CRCM Topic 4 Question 53 Discussion

Actual exam question for American Bankers Association's Certified Regulatory Compliance Manager exam

Question #: 53
Topic #: 4

[All Certified Regulatory Compliance Manager Questions]

FA presents cash to the bank and seeks to wire it to his spouse, RA, in Cub A . The OFAC list identifies RA as a specially designated national. Under OFAC Regulations, what should the bank do?

ABlock the transfer

BConduct the transfer as requested and take no further action

CConduct the transfer as requested and notify OFAC immediately

DConduct the transfer only if the bank determines that Cuba is not a blocked country

Show Suggested Answer

Suggested Answer: A

by Amie at Jun 14, 2022, 02:41 AM

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