The BSA officer has just been notified by the chief operations officer that, due to a glitch in the bank's OFAC interdiction software, wires have been regularly transmitted to a bank on the SDN list. Based on the OFAC Enforcement Guidance, what should the BSA Officer do FIRST to attempt to mitigate any penalties?
Which of the following is MOST effective in strengthening an anti-money laundering program involving cash transactions?
When all the required information is NOT provided by a person purchasing a cashier's check with $8,000 in currency, what should the bank do?
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 bank is conducting due diligence for a foreign correspondent bank account. Which of the following is NOT required information?