When Completing and Filing a SAR, What Is the Bank

question 326

Multiple Choice

When completing and filing a SAR, what is the bank NOT required to do?

• A) Submit a copy of the supporting documentation with the SAR
• B) Submit the SAR within 30 days of the initial detection of facts
• C) Report the SAR information to the bank's board of directors
• D) Maintain a copy of the SAR and supporting documentation for 5 years

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Definitions:

Civil Disobedience

The active, professed refusal to obey certain laws, demands, or commands of a government or occupying power, without resorting to physical violence.

Capacity

The maximum amount that something can contain or produce.

Warfare

Organized and often prolonged conflict that is carried out by states or non-state actors.

Formally Binding Agreement

A contract or agreement recognized by law, which obligates involved parties to fulfill specified conditions and may involve penalties for non-compliance.