Which of the following is MOST effective in strengthening an anti-money- laundering program involving cash transactions?
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A. B. C. D.D
Out of the given options, option C is the MOST effective in strengthening an anti-money-laundering program involving cash transactions. Completing SAR (Suspicious Activity Report) worksheets on all cash transactions of $5,000 or more is the most effective measure to prevent money laundering activities as it identifies potential suspicious activities and enables the financial institution to report such activities to the Financial Crimes Enforcement Network (FinCEN).
Option A, reviewing all deposits of $25,000 or more, may identify some potential suspicious activities, but it may not be the most effective measure to identify smaller but still significant money laundering activities.
Option B, completing CTR (Currency Transaction Report) worksheets on all cash transactions of $5,000 or more, is a requirement under the Bank Secrecy Act, but it may not necessarily identify suspicious activities as it is only focused on currency transactions and not necessarily suspicious activity.
Option D, monitoring cash transactions of less than $10,000 for suspicious patterns, may help identify suspicious activities but it may not be the most effective measure as it does not cover all cash transactions and may not be as effective as completing SAR worksheets on transactions of $5,000 or more.
In summary, completing SAR worksheets on all cash transactions of $5,000 or more is the most effective measure to strengthen an anti-money laundering program involving cash transactions.