Great Northern Bank makes loans to thousands of individuals and companies. They are under investigation for their handling of several cash transactions of $100,000 or more from a seemingly legitimate business. The federal investigation discovered that the business was a front for an organized crime group selling illegal weapons. Which of the following is true?
a. The bank is not responsible for reporting these transactions based on the Sherman Act.
b. The bank is responsible for reporting these transactions under the USA Patriot Act.
c. The bank is responsible for all the actions of their customers and is therefore liable.
d. The bank may not be responsible for reporting these transactions based on RICO Act.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Great Northern Bank makes loans to thousands of individuals and companies. They are under investigation for their handling of several cash ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Stacy Monroe wants to create a fund today that will enable her to withdraw $35,000 per year for 6 years, with the first withdrawal to take place 4 years from today.
Answers (1)
During 2016, Millstone Company earned $6,500 of cash revenue, paid cash dividends of $1,000 to owners and paid $4,000 for cash expenses. Liabilities were unchanged.
Answers (1)
In an attempt to expand viewership of the television show Mystery Science Theater 3000 in its early days, the producers encouraged viewers to make copies of the show on video tapes and give them to friends.
Answers (1)
Jase Manufacturing Co.'s static budget at 7,600 units of production includes $30,400 for direct labor and $3,040 for electric power. Total fixed costs are $39,200. At 10,500 units of production, a flexible budget would show a.
Answers (1)
An asset group is being evaluated for an impairment loss. The following financial information is available for the asset group: Carrying value Sum of the undiscounted cash flows Fair value $100,000,000 95,000,000 80,000,000 What amount of impairment
Answers (1)
New Questions in Business
Which of the following statements accurately describes the efficient market hypothesis? A. Stock prices must go up upon good news, even if the news was expected. B.
Answers (1)
Kramer Enterprises reports year-end information from 2015 as follows: Sales (160,000 units) $960,000 Cost of goods sold 640,000 Gross margin 320,000 Operating expenses 260,000 Operating income $60,000 Kramer is developing the 2016 budget.
Answers (1)
What is purchasing process?
Answers (1)
The report of which agency states, "it is paradoxical that obesity is increasing in the us while more people are dieting than ever before, spending, by one estimate, more that $33 billion per year on weight-reduction products and services?
Answers (1)
Which of the following are inefficient markets? Select all that apply. Consumers compete for wages in a free market economy. Consumers wait in line to buy a sale television because the first to come is the first served.
Answers (1)