According to the Financial Crimes Enforcement Network, after an initial suspicious activity report has been filed for a customer, a financial institution must perform a continuing review of the…

The correct answer is C. 90 days. a financial institution must perform a continuing review of the account for a period of 90 days. The continuing review must include an analysis of any transactions that occur in the account, as well as any changes in the customer's risk profile. The review should be updated as…

AML/CFT Compliance Programs

Question

According to the Financial Crimes Enforcement Network, after an initial suspicious activity report has been filed for a customer, a financial institution must perform a continuing review of the account for a period of how many days?

Options

A30 days
B60 days
C90 days
D120 days

How the community answered

(38 responses)

A
8% (3)
B
3% (1)
C
84% (32)
D
5% (2)

Explanation

a financial institution must perform a continuing review of the account for a period of 90 days. The continuing review must include an analysis of any transactions that occur in the account, as well as any changes in the customer's risk profile. The review should be updated as needed to ensure that the customer is not engaging in any suspicious activities.

Topics

#FinCEN#SAR continuing review#90-day rule#account monitoring

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