American Bankers Association Exam CRCM Topic 5 Question 52 Discussion

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

Question #: 52
Topic #: 5

[All Certified Regulatory Compliance Manager Questions]

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?

AReject the transaction

BProcess the transaction

CClose the customer's account

DPlace the funds in an interest-bearing account

Show Suggested Answer

Suggested Answer: A

by Latrice at May 29, 2022, 10:24 PM

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