In Which of the Following Circumstances Is It LEAST Appropriate

question 161

Multiple Choice

In which of the following circumstances is it LEAST appropriate for a bank to file a SAR regarding Internet activity?

• A) Bank determines that one of its customers is the victim of identity theft
• B) Bank becomes aware of identity theft of its domain name (i.e., another entity selects a name similar to the bank's in order to confuse customers and obtain confidential financial information)
• C) Bank discovers that someone has hacked into its data system in order to obtain confidential customer data
• D) Bank determines through its transaction-monitoring program that a customer is making electronic transfers between his own checking and savings accounts that are just below the $10,000 reporting level

---

Definitions:

Wages Expense

This is the total amount of money paid to employees for work performed during a specific period.

Payroll

The total amount of money paid by a business to its employees over a set period, including wages, salaries, bonuses, and deductions.

Retained Earnings

The portion of net income that is not distributed as dividends to shareholders but is kept by the company for reinvestment or to pay off debt.

Ledger Accounts

Record-keeping systems that track financial transactions through debits and credits to maintain the financial health and status of an entity.