FA presents cash to the bank and seeks to wire it to his spouse, RA, in CubA. The OFAC list identifies RA as a specially designated national. Under OFAC Regulations, what should the bank do?
Answer(s): A
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?
Answer(s): D
Post your Comments and Discuss Banking CRCM exam with other Community members:
LeAnne Hair commented on August 24, 2023 #229 in incorrect - all the customers require an annual review UNITED STATES upvote
LeAnne Hair commented on August 24, 2023 I think question 204 has an incorrect solution. It should be D-Regulation E UNITED STATES upvote
Igor commented on April 10, 2020 Guys, leave no stones unturned. Try to study every questions and anything other supplementary material you have. The exam is not easy. I just wrote mine and if it wss not for these questions I would have not have passed it. BULGARIA upvote
Lori commented on July 20, 2017 I had a good result. Worth the money. UNITED STATES upvote
Chipps commented on July 20, 2017 Studying from this dump helped me understand the concept and what comes in the exam. But I only get about 80 to 85% of the questions not 100% as it is claimed. Well... still good enough to pass. UNITED STATES upvote
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