Which of the following is NOT a written record the bank should retain in complying with the Bank Bribery Act?
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A. B. C. D.B
The Bank Bribery Act (18 U.S.C. § 215) prohibits bank officers, employees, or agents from soliciting, demanding, accepting, or agreeing to receive anything of value in exchange for taking or withholding any official action. In order to comply with this law, banks are required to maintain certain written records.
A. A copy of the bank's internal code of conduct is a record that the bank should retain in complying with the Bank Bribery Act. The code of conduct outlines the ethical principles and guidelines that bank officers, employees, and agents are expected to follow in carrying out their duties. This document is important because it establishes a standard of behavior for bank personnel and helps to prevent unethical or illegal actions.
B. A list of all gifts received by bank officers during the year is a record that the bank should retain in complying with the Bank Bribery Act. The Act requires banks to report any gifts or gratuities received by bank officers or employees in connection with their official duties. This information is necessary to ensure that bank personnel are not unduly influenced by outside parties and that their actions are free from bias.
C. Disclosures of unauthorized gifts are records that the bank should retain in complying with the Bank Bribery Act. If a bank officer or employee receives a gift that is prohibited by law or the bank's policies, they must report it to their supervisor or compliance officer. This disclosure is important because it helps to prevent future violations of the Bank Bribery Act and other laws.
D. A list of all bank officers' outside business interests is not a written record that the bank should retain in complying with the Bank Bribery Act. While it is important for banks to be aware of their officers' outside business interests to avoid conflicts of interest, this information is not specifically required by the Bank Bribery Act. However, other laws and regulations may require banks to maintain records related to officers' outside activities.
In summary, the correct answer to the question is D. A list of all bank officers' outside business interests is not a written record the bank should retain in complying with the Bank Bribery Act.