A financial institution should have an internal incident referral process as part of its transaction monitoring program.

Remote Deposit Capture is a highly sophisticated deposit transaction delivery system that has no risks associated with recordkeeping

Obtaining CDD information is a sufficient risk mitigating factor when providing international funds transfer services.

Preparing for an examination or internal audit starts when the first day letter is received.

Who is responsible for implementing and enforcing the BSA/AML program?

When reviewing transactional activity, one must be trained to look for patterns of activity.

Correspondent account need not be concerned with monitoring for structured monetary instruments since this is the responsibility of the respondent bank

Senior management and board of directors do not have a fiduciary responsibility to invest in compliance to protect the bank.

Shell companies have no legitimate purposes.

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