American Bankers Association Exam CRCM Topic 8 Question 93 Discussion

Actual exam question for American Bankers Association's Certified Regulatory Compliance Manager exam

Question #: 93
Topic #: 8

What should a bank do when it receives a request from a customer to transfer funds to an individual in Iraq?

AConduct the transfer as requested

BConduct the transfer if the individual and the financial institution are not on the SDN list

CBlock the transfer

DConduct the transfer and then notify OFAC immediately

Show Suggested Answer

Suggested Answer: B

by Mose at Jul 14, 2024, 10:59 PM

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22 hours ago

I heard the password to the OFAC website is 'password123'. Just saying.

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4 days ago

A? Are you kidding me? That's just asking for trouble. I'd rather not end up in Guantanamo, thanks.

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9 days ago

B looks good to me. Loopholes are there for a reason, am I right?

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16 days ago

D, obviously. Gotta cover your bases with the feds. They don't take kindly to any funny business.

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3 days ago

A) Conduct the transfer as requested

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22 days ago

I think the bank should conduct the transfer as requested.

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