American Bankers Association Exam CRCM Topic 4 Question 96 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 96
Topic #: 4

[All CRCM Questions]

For which of the following is a bank most likely to be in danger of receiving a cease and desist order?

ARepetition in a BSA examination of a noncritical deficiency reported in a previous BSA examination

BFailure to document AML training to its part-time clerical employees

CA 2 percent error rate on the bank's CTRs

DFailure to file suspicious activity reports

Show Suggested Answer

Suggested Answer: D

by Jacklyn at Sep 13, 2024, 04:54 AM

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Berry

4 months ago

You know, I heard about a bank that got caught not reporting a million-dollar money laundering scheme. Talk about a slap on the wrist!

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Daniela

3 months ago

C) A 2 percent error rate on the bank's CTRs

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Stephaine

4 months ago

B) Failure to document AML training to its part-time clerical employees

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Ula

4 months ago

A) Repetition in a BSA examination of a noncritical deficiency reported in a previous BSA examination

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Annamae

4 months ago

I don't think that would lead to a cease and desist order. It's important, but not as critical as failing to report suspicious activity.

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Yan

4 months ago

But what about C) A 2 percent error rate on the bank's CTRs?

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Cassi

4 months ago

I agree with Annamae. That's a serious violation.

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Stefania

4 months ago

Haha, D is a total no-brainer! The bank might as well just hand over their license if they're not filing those SARs.

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Isreal

3 months ago

D) Failure to file suspicious activity reports

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Xochitl

3 months ago

C) A 2 percent error rate on the bank's CTRs

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Celestina

3 months ago

B) Failure to document AML training to its part-time clerical employees

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Lucia

3 months ago

A) Repetition in a BSA examination of a noncritical deficiency reported in a previous BSA examination

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Annamae

4 months ago

I think it's D) Failure to file suspicious activity reports.

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Erick

4 months ago

Definitely D. That's a big no-no in the world of banking compliance. The fines and penalties can be brutal.

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Margot

4 months ago

Yeah, the consequences can be really harsh for the bank.

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Nobuko

4 months ago

I agree, failing to file suspicious activity reports is a serious offense.

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Erin

5 months ago

I agree, D is the way to go. The bank is really playing with fire if it's not properly reporting suspicious activity.

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Shaun

5 months ago

Hmm, I'd say D is the correct answer. Failing to file SARs is a major compliance issue that can land a bank in hot water with the regulators.

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Shawna

4 months ago

Yes, it's definitely a red flag for regulators and can lead to a cease and desist order.

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Lenna

4 months ago

I agree, not filing SARs is a serious violation that regulators take very seriously.

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