Exam CGSS Topic 2 Question 69 Discussion

Actual exam question for ACAMS's CGSS exam
Question #: 69
Topic #: 2
The funds of a client have been frozen by a financial institution. Subject to the Office of Foreign Assets Control's (OFAC's) regulations, the best course of action for the client to take would be to:

Suggested Answer: D Vote an answer

Under OFAC regulations, when a customer's funds are blocked, the individual or entity may apply to OFAC for a specific license to authorize the release or movement of the funds. Only OFAC has the authority to approve the unblocking of assets.
Attempting new transactions (A) is prohibited. Banks cannot refund blocked funds (B). Notifying local authorities (C) does not resolve the issue, because OFAC authorization is required.
Reference:
OFAC Licensing Guidelines.
Procedures for requesting a specific license to release blocked property.

by Miles at Feb 27, 2026, 12:40 PM

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