MENU
Your institution has identified a transaction by an existing depositor that should be blocked under OFAC requirements. The branch manager contacts you for specific instructions. Before reporting the transaction to OFAC, what should the bank do?
Suggested Answer: A
Get Premium CRCM Questions
as Interactive Web-Based Practice Test or PDF
Real Exam Format
Detailed Explanations
Instant Access
Get Your Practice Test
11 comments · newest first
DE
Delbert
11 months ago
OFAC rules are strict, no doubt about it!
VE
Venita
11 months ago
Wait, can we really just put the funds in an interest account?
CO
Corazon
12 months ago
Closing the account seems extreme, though.
RO
Rolf
12 months ago
Totally agree, blocking it is the right move!
FR
Francine
12 months ago
We have to reject the transaction first.
NG
Ngoc
1 year ago
I vaguely recall something about placing funds in a separate account, but that seems risky. I think rejecting the transaction is safer.
VA
Vanna
1 year ago
I feel like we should definitely not process the transaction, but I'm a bit confused about whether we need to close the account or just report it.
ED
Edmond
1 year ago
This reminds me of a practice question where we had to decide whether to process or block a transaction. I think rejecting it might be the right move here.
KR
Kristin
1 year ago
I remember we discussed the importance of blocking transactions under OFAC guidelines, but I'm not sure if we should reject it outright or just hold it.
AJ
Aja
1 year ago
Okay, let me see. Baiting is when the attacker leaves a physical device like a USB drive with malware, hoping the victim will find and use it. That sounds like the most likely answer here.
AL
Alesia
1 year ago
I'm a bit confused on the relationship between vRSLCM and the other vRealize products. I'll need to review my notes to make sure I understand the dependencies.