What Should a Bank's Bank Secrecy Act Compliance Program Include

question 177

Multiple Choice

What should a bank's Bank Secrecy Act compliance program include?

• A) All lobby notice requirements
• B) The one-year record retention requirements
• C) Designation of individuals responsible for day-to-day compliance
• D) A list of types of loans covered by the Act

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Definitions:

Commercial Large-Scale

Pertaining to production or operations conducted on a wide, extensive scale, primarily for economic gain.

Sport Fishing

The recreation of catching fish for pleasure or competition, as opposed to commercial fishing.

Sewage

Wastewater that typically contains contaminants and is produced by residential, industrial, and commercial establishments, requiring treatment before being released into the environment.

Natural Extinction

The process by which species become extinct due to natural factors such as environmental changes, loss of habitat, or failure to adapt to competition.