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

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Definitions:

Petty Cash

A small amount of cash kept on hand for minor, immediate expenses.

Small Payments

Transactions involving a minimal amount of money, typically associated with minor or routine purchases.

Managerial Accounting Information

Data and reports that are specifically prepared for internal use by management to assist in decision-making and strategy formulation.

Salary Adjustments

The process of modifying an employee's pay rate, often in response to changes in market conditions, performance, or inflation.