American Bankers Association Exam CRCM Topic 4 Question 90 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 90
Topic #: 4

[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 Salina at Jun 19, 2024, 03:00 AM

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Nathalie

7 months ago

Ah, the age-old question of how to catch the money launderers. Maybe we should just install a giant cash-sniffing dog at the entrance. Woof!

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Dan

7 months ago

Option A? Really? Who deposits $25,000 in cash these days? That's just asking to get robbed. Pass.

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Louis

7 months ago

Option B sounds like a lot of paperwork, but it might be worth it to have a paper trail. I'm not sure I trust the bank tellers to catch everything.

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Tyisha

6 months ago

Francesco: Tyisha, that's a good point. It's important to catch any suspicious activity, no matter the amount.

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Daron

6 months ago

Daron, I think monitoring cash transactions of less than $10,000 for suspicious patterns is also important.

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Francesco

7 months ago

Francesco, I think having a paper trail is important for tracking cash transactions.

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Vanesa

7 months ago

I agree, option B does seem like a lot of paperwork.

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Kasandra

7 months ago

I agree with Francine, option C would provide more detailed information for reporting suspicious transactions.

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Francine

8 months ago

But completing SAR worksheets on all cash transactions of $5,000 or more would help identify suspicious activities.

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Rashida

8 months ago

I disagree, I think option C is the way to go. Completing SAR worksheets on cash transactions of $5,000 or more is crucial for reporting any suspicious activity.

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Delmy

7 months ago

User 2

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Mendy

7 months ago

User 1

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Jaime

8 months ago

I disagree, I believe option A is better.

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Cecilia

8 months ago

I think option D is the most effective. Monitoring suspicious patterns, even in smaller transactions, can help catch potential money laundering activities.

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Madalyn

8 months ago

I think reviewing all deposits of $25,000 or more would also be effective in strengthening the program.

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Dana

8 months ago

I agree, monitoring smaller transactions is key to catching suspicious activity.

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Francine

8 months ago

I think option C is the most effective.

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