American Bankers Association Exam CRCM Topic 10 Question 94 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 94
Topic #: 10

[All CRCM Questions]

Which of the following is MOST effective in strengthening an anti-money laundering program involving cash transactions?

AReview all deposits of $25,000 or more

BComplete CTR worksheets on all cash transactions of $5,000 or more

CComplete SAR worksheets on all cash transactions of $5,000 or more

DMonitor cash transactions of less than $10,000 for suspicious patterns

Show Suggested Answer

Suggested Answer: D

by Lottie at Aug 06, 2024, 09:56 PM

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Kip

3 months ago

I'm just glad I don't have to deal with this money laundering stuff. Can't they just make it all digital and auCristaate it or something?

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Fredric

3 months ago

Haha, option D is like the 'Where's Waldo?' of anti-money laundering. Good luck finding those suspicious patterns in all that cash!

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Selma

3 months ago

Option A is definitely not the answer. Reviewing all deposits of $25,000 or more is way too high of a threshold, and we all know money launderers are way smarter than that these days.

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Theresia

2 months ago

C) Complete SAR worksheets on all cash transactions of $5,000 or more

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Gearldine

2 months ago

B) Complete CTR worksheets on all cash transactions of $5,000 or more

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4 months ago

I think option D is the most effective. Monitoring cash transactions below $10,000 for suspicious patterns can help catch smaller money laundering activities that might slip through the cracks.

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Kristin

3 months ago

I think it's crucial to pay attention to all cash transactions, no matter the amount.

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Dorothy

4 months ago

I agree, monitoring smaller transactions can help detect suspicious activity.

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Janet

4 months ago

Option D is a good choice. It's important to catch those smaller transactions.

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