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Which of the following customers may be exempted under Phase II of the Bank Secrecy Act?
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Question 430 - CRCM discussion

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A compliance officer is constructing a review of a transaction in which M, a deposit account customer, used cash to purchase travelers' checks in an amount of $4,000. The compliance officer must determine compliance with financial recordkeeping and currency reporting regulations. Which of the following pieces of information must be part of the bank's records for this transaction?

A.
M's date of birth
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A.
M's date of birth
B.
M's deposit account number
Answers
B.
M's deposit account number
C.
The serial numbers of the travelers' checks purchased
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C.
The serial numbers of the travelers' checks purchased
D.
The name of the branch where the transaction occurred
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D.
The name of the branch where the transaction occurred
Suggested answer: C
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asked 16/09/2024
Alexandru Ouatu
47 questions
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