Exam CRCM topic 1 question 250 discussion

question in guide. When a customer, in this case, "M," uses cash to purchase travelers' checks exceeding $3,000, the bank is required to maintain records of certain information regarding the transaction, including the serial numbers of the travelers' checks purchased. This information is crucial for compliance with financial recordkeeping and currency reporting regulations, as it helps track the movement of funds and detect potential suspicious activity. The other options listed (A, B, and D) are not specifically required for this transaction under financial recordkeeping and currency reporting regulations. While some of this information may be helpful or required for other purposes, such as account management or customer identification, they are not specifically mandated for this type of transaction.