BSA 2 - BSA-AML Complying with the BSA questions with correct answers

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. - ANSWER-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 is arrested for alleged drug trafficking and money laundering ID:5D855894FBD31A59E5E264E b. A is incorrect because the experience of the senior management team is not a factor in determining