American Bankers Association Exam CRCM Topic 4 Question 83 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 83
Topic #: 4

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?

AA SAR should be filed.

BThe bank's board of directors should discuss the account activity without the affected director being present.

CThe bank's president should meet with the affected director to discuss the account activity.

DThe bank should file a CTR, checking the box that indicates the report is for suspicious activity.

Show Suggested Answer

Suggested Answer: A

by Helene at Mar 16, 2024, 11:19 PM

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Gearldine

5 months ago

It's best to follow proper reporting procedures and then handle the situation internally.

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Jospeh

5 months ago

No, I think filing a CTR with the checkbox for suspicious activity is the right step.

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Glory

5 months ago

I believe meeting with the affected director directly is important to gather more information.

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Tanja

6 months ago

But shouldn't the board of directors discuss the activity first before taking action?

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Elinore

6 months ago

I agree, reporting the suspicious activity is crucial.

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Horace

6 months ago

I think the first action should be to file a SAR.

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Brynn

6 months ago

I think we should prioritize reporting the activity to the appropriate authorities.

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Myra

6 months ago

Filing a CTR with the suspicious activity box checked could also be a good first step.

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Malinda

6 months ago

I believe the president should meet with the affected director to get more information.

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Clement

7 months ago

I agree with Gary, filing a SAR is important to report suspicious activity.

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Gilma

7 months ago

But shouldn't we discuss the activity with the board of directors before taking any action?

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Gary

7 months ago

I think we should file a SAR first.

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