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SYLLABUSChapter 3 · Compliance Program

Q.214 / 729

Which statement about Suspicious Transaction Report (STR) submission timelines is correct?

Within 3 business days of detection

Report immediately on identification; no internal thresholds allowed

Aggregate monthly and submit in batch

Explanation:STR must be filed immediately upon identification of suspicious activity. Institutions may not invoke internal approval workflows or set monetary thresholds to delay reporting.

Mastery 82%

Missed questions · 12 frequent

SYLLABUSChapter 3 · Compliance Program

Q.214 / 729

Which statement about Suspicious Transaction Report (STR) submission timelines is correct?

Within 3 business days of detection

Report immediately on identification; no internal thresholds allowed

Aggregate monthly and submit in batch

Explanation:STR must be filed immediately upon identification of suspicious activity. Institutions may not invoke internal approval workflows or set monetary thresholds to delay reporting.

Mastery 82%

Missed questions · 12 frequent

729

6th Edition questions

469

7th edition questions (banked)

Topics Covered

Money laundering and terrorist financing risks and methodsInternational standards and FATF recommendationsSanctions complianceCustomer due diligence CDD/KYCPEPSuspicious transaction reportingTrade-based money laundering TBMLShell companies and beneficial ownersRisk assessmentCompliance programsInvestigation procedures