CTR
OFAC
ACH
WIRES
AML
100
What does CTR stand for?
(Large) Cash Transaction Report
100
What pages should you print of the OFAC check for filing/ documentation purposes?
ALL pages should be printed.
100
What does ACH stand for?
Automated Clearing House
100
Who do you give a Wire Transfer Form to once completed?
Chelsea (When on leave give to Courtney)
100
How many stages of Money Laundering are there?
3
200
Once a year a list is updated with certain customers we no longer have to run CTRs on, what is that list called?
The Exemption List
200
If there is a hit while running an OFAC check what should you do?
First verify if there is a mismatch in information. If the hit is acurate you should immediatly bring it to a supervisors attention.
200
How many parties are in a ACH transaction?
5
200
Where do you go to get the electronic form for Wire Transfers?
Compliance One
200
What are the stages of Money Laundering?
1. Placement 2. Layering 3. Integration
300
What are three of the most important fields that should be filled in on a CTR?
Any Three Of: Taxpayer Identification Number ID Method and Number Physical Address Date of Birth Occupation
300
What does OFAC stand for?
Office of Foreign Assets Control
300
What are the five parties to an ACH Payroll transaction?
1. Originator (Employer) 2. Originating Bank 3. Federal Reserve (ACH Operator) 4. Recieving Bank 5. Reciever (Employee)
300
What wire system do we use?
Fedwire
300
What is the name of one of the most recent laws that has come into effect to help prevent Anti-Money Laundering?
Uniting and Strengthening America by Providing Appropriate Tools to Restrict, Intercept, and Obstruct Terrorism Act of 2001 OR USA PATRIOT ACT
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