Which set of items constitutes the required information for funds transfer recordkeeping?

Study for the Certified Bank Secrecy Act Professional Test. Use flashcards and multiple-choice questions with hints and explanations. Get exam ready!

Recordkeeping for funds transfers hinges on capturing identifiers that let you trace a transfer clearly and reliably. The best set includes the name of the originator or beneficiary, the date of the transfer, the type of transfer (such as wire or ACH), a unique serial or transaction identifier, and the dollar amount. This combination provides a complete, auditable snapshot of each transfer: you know who’s involved, when it happened, what kind of transfer it was, a unique reference to locate the record, and how much money moved.

The other options don’t provide the same level of traceability. Including only account and routing numbers isn’t focused on identifying the specific transfer record itself. Relying on a Social Security number alone fails to give the necessary transfer details and raises privacy concerns, while just having email and phone provides contact information without the essential transfer identifiers and amount.