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American Bankers Association CRCM Exam - Topic 7 Question 7 Discussion

A routine review of account records reveals that suspicious activity involving foreign currency has occurred in the account of one of the bank's directors. Which of the following actions should be taken FIRST?
A) A SAR should be filed.
B) The bank's board of directors should discuss the account activity without the affected director being present.
C) The bank's president should meet with the affected director to discuss the account activity.
D) The bank should file a CTR, checking the box that indicates the report is for suspicious activity.

American Bankers Association CRCM Exam - Topic 7 Question 7 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 7
Topic #: 7
[All CRCM Questions]

A routine review of account records reveals that suspicious activity involving foreign currency has occurred in the account of one of the bank's directors. Which of the following actions should be taken FIRST?

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Suggested Answer: A

by Ilene at May 05, 2022, 12:14 PM

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Ceola
8 months ago
Wow, I didn't expect a director to be involved in this!
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Willard
9 months ago
Filing a CTR for suspicious activity? That sounds off.
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Chaya
9 months ago
Wait, shouldn't the board discuss it first?
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Sarah
9 months ago
I agree, that's the standard procedure!
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Alisha
9 months ago
A SAR should definitely be filed first.
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Hailey
9 months ago
Based on the description, I think the correct answer is Suites. It sounds like the component that acts as a container for test cases.
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Myrtie
9 months ago
This seems like a straightforward networking question. I'll carefully read through the options and think about the split-tunnel policy that would allow the remote client to use their local provider for internet access.
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Raul
10 months ago
I'm a bit confused about the "rank" of the device groups. Does that mean we need to create a new group with a specific rank? I'll have to think that through.
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