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BSA 2 - BSA-AML COMPLYING WITH THE BSA (COMPLETE) 2024 QUESTIONS WITH SCORED A+ SOLUTIONS!!
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BSA 2 - BSA-AML COMPLYING WITH THE BSA (COMPLETE) 2024 QUESTIONS WITH SCORED A+ SOLUTIONS!!
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BSA 2 - BSA-AMLCOMPLYING WITH THE
BSA (COMPLETE) 2024
QUESTIONS WITH
SCORED A+
SOLUTIONS!!
Evatee 10/1/24 BSA 2- BSA-AML
, BSA 2 - BSA-AML COMPLYING WITH THE BSA
(COMPLETE) 2024 QUESTIONS WITH SCORED
A+ SOLUTIONS!!
1. Severe penalties can be assessed for violations of the BSA/AML compliance
program. Which scenario describes a potential violation that could lead to civil
or criminal penalties for noncompliance?
A. Robert, a customer service representative, uses the client's middle initial
rather than looking up his middle name when completing the CTR
B. Nellie, a bank officer in the private banking department, has opened an
account for an individual about whom she is unable to obtain sufficient
information or credentials
C. Natasha, a compliance officer responsible for detecting multiple
transactions in one day, reviews a standard analysis report but accidentally
misses multiple transactions by a customer
D. Mark, a lender, feels confident in identifying suspicious illegal activity and
always asks for the appropriate customer identification. Last month, however,
he inadvertently opened two deposit accounts for a client that Answer - b.
A, C, and D are incorrect because although these types of mistakes can be
noted in an exam, Robert, Natasha, and Mark followed all the correct BSA/AML
procedures but unfortunately, had oversights in their daily tasks.
2. Bank employees are required to comply with the BSA. Which statement best
completes the following sentence: What you must do to comply with the BSA
and protect the assets of your financial institution will be dictated by
______________________.
A. The level of experience of your senior management team and your job
responsibilities
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