American Bankers Association Exam CRCM Topic 7 Question 104 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 104
Topic #: 7

[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 Coral at Dec 06, 2024, 05:04 AM

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Nenita

2 months ago

Option A is too narrow-minded. You can't just focus on the big deposits and ignore the smaller ones. Gotta keep an eye on the whole cash flow, you know?

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Yuette

1 months ago

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

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Amber

2 months ago

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

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Alesia

2 months ago

A) Review all deposits of $25,000 or more

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Marsha

2 months ago

I think monitoring cash transactions of less than $10,000 for suspicious patterns is also important to strengthen the anti-money laundering program.

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Minna

2 months ago

Haha, I bet the bank tellers are going to have a field day with all the CTR worksheets if they go with Option B. Talk about paperwork overload!

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Ressie

2 months ago

I think monitoring cash transactions under $10,000 for suspicious patterns is a better option to catch potential money laundering.

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Luther

2 months ago

Yeah, that would definitely be a lot of paperwork to handle.

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Janae

3 months ago

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

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Nichelle

3 months ago

I disagree, I believe option A is better.

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Karl

3 months ago

I disagree, I think Option C is the way to go. Completing SAR worksheets on all cash transactions of $5,000 or more will give you a much more comprehensive view of the activities.

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Jillian

2 months ago

Reviewing all deposits of $25,000 or more could also be helpful in identifying potential money laundering activities.

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Chu

2 months ago

Completing SAR worksheets on transactions over $5,000 seems like the most thorough approach to me.

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Yan

2 months ago

I think monitoring cash transactions under $10,000 for suspicious patterns is also important to catch any red flags.

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Josephine

2 months ago

Option C is definitely the best choice. It gives a more detailed look at the transactions.

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Janae

3 months ago

I think option C is the most effective.

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Wendell

3 months ago

Option D seems like the most effective approach. Monitoring smaller cash transactions for suspicious patterns can help catch potential money laundering activities that might slip through the cracks.

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