Suspicious activity reporting: a) Only applies to banking transactions b) Is mandated by state, but not federal, regulations c)

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Suspicious activity reporting: a) Only applies to banking transactions b) Is mandated by state, but not federal, regulations c)

Is mostly concerned with embezzlement issues d) Requires CPAs to report questionable financial transactions to the U.S. Treasury Department e) None of the above

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1 answer:

emmasim [6.3K] · Answer 1 · 2022-08-30T14:10:27+03:00

Answer:D. Requires CPAs to report questionable financial transactions to the U.S. Treasury Department

Explanation: Suspicious activities reporting (SAS) is the reporting of any activities of a person ,a group of persons or an organisation that is seen to be carrying out questionable financial transactions to the US treasury department This questionable transactions include MONEY LAUNDERING, BRIBES, OR WIRE TRANSFERS TO TERRORIST ORGANIZATIONS. SARS was enacted through the Anti-Money Laundering act 1992, amendments to the bank secrecy Act of 1996, and several sections of the USA Patriot Act 2001.