Your Institution Has Identified a Transaction by an Existing Depositor

Your institution has identified a transaction by an existing depositor that should be blocked under OFAC requirements. The branch manager contacts you for specific instructions. Before reporting the transaction to OFAC, what should the bank do?

A) Reject the transaction
B) Process the transaction
C) Close the customer's account
D) Place the funds in an interest-bearing account

Correct Answer:

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