Banks Are Subject to Prosecution When They Fail to Maintain

question 53

True/False

Banks are subject to prosecution when they fail to maintain systems for identifying and reporting suspicious activities.

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Definitions:

Accounts Payable

Liabilities of a firm representing money owed to creditors for goods and services purchased on credit.

Fund Shares Outstanding

The total number of shares issued and currently held by investors, including restricted shares owned by the company’s officers and insiders but excluding any repurchased shares.

Capital Gain Distributions

Payments made to shareholders that result from the selling of securities within the fund’s portfolio, which are subject to capital gains taxes.

Income Distributions

Payments made from a fund or account to investors, typically from earned interest or dividends from investments.