American Bankers Association Exam CRCM Topic 8 Question 93 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 93
Topic #: 8

[All CRCM Questions]

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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Scot

4 months ago

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

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Tiera

3 months ago

C) Block the transfer

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Garry

3 months ago

B) Conduct the transfer if the individual and the financial institution are not on the SDN list

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Herminia

3 months ago

A) Conduct the transfer as requested

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Tesha

4 months 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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Elke

4 months ago

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

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Blair

3 months ago

C) Block the transfer

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Willard

3 months ago

B) Exactly, it's important to follow regulations to avoid any issues

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Bambi

3 months ago

A) Conduct the transfer as requested

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Sheridan

4 months ago

B) Conduct the transfer if the individual and the financial institution are not on the SDN list

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Ruthann

4 months ago

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

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Man

3 months ago

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

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Janella

3 months ago

D) Conduct the transfer and then notify OFAC immediately

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Chauncey

4 months ago

C) Block the transfer

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Annalee

4 months ago

B) Conduct the transfer if the individual and the financial institution are not on the SDN list

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Elenore

4 months ago

A) Conduct the transfer as requested

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Blondell

4 months ago

Option C is the way to go. Can't be too cautious these days, you know?

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Florinda

4 months ago

Definitely, it's important to follow regulations.

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Henriette

4 months ago

I agree, better safe than sorry.

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Maddie

4 months ago

C) Block the transfer

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Flo

4 months ago

I think the best option is to conduct the transfer and then notify OFAC immediately for further guidance.

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Rebbecca

5 months ago

I believe the bank should block the transfer to be safe.

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Nicholle

5 months ago

I disagree, the bank should only conduct the transfer if the individual and the financial institution are not on the SDN list.

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Lili

5 months ago

I think the bank should conduct the transfer as requested.

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