BSA/OFAC
Cash Transactions involving this dollar amount trigger the filing of a CTR
What is $10,000.01?
Changing the amount of a transaction to avoid a CTR filing is ___________
What is Structuring?
Office of Foreign Assets Control (OFAC) is a division of _____________
What is US Department of the Treasury?
Tricking a person to share confidential information
What is Social Engineering?
Taking advantage of the float to make use on non-existent funds in a checking or other bank account
What is kiting?
TLC's BSA Officer
Who is Lori Pawson?
Any transaction or dealing which raises in the mind of a person involved, any concerns or indicators that such a transaction or dealing may be related to money laundering or terrorist financing or other unlawful activity.
What are suspicious transactions?
This act was enacted to further assist in the prevention, detection, and prosecution of international money laundering and the financing of terrorism.
What is the US Patriot Act?
The practice of pretending to represent a financial institution or company requesting personal information via email.
What is Phishing?
A warning placed on your credit reports that tells creditors to follow certain procedures before making changes to your account or opening new ones.
What is a fraud alert?
True or False: It is permissible to notify a customer that a SAR is being filed on them.
What is False? It is a federal crime to notify any person that they are the subject of a SAR.
Suspicious or Not Suspicious: A customer presents for deposit 6 US Postal Money Orders for $500 each. The money orders are purchased by the customer.
What is Suspicious?
Because of this event, the government enhanced the Customer Identification Program.
What is 9/11?
Protection for the O.S. of your computer from hacking
What is Antivirus Software?
A fraudulent or otherwise illegal, unauthorized, or improper act or process of an individual that results or is intended to result in depriving a vulnerable or senior adult of rightful access to or use of benefits, resources belongings or assets.
What is Financial Exploitation?
OFAC stands for
What is the Office of Foreign Assets Control?
When illegal money is brought into the mainstream circulation.
What is Money Laundering?
What is the main purpose of the Patriot Act?
What is to combat terrorism by tracing money that funds terrorist groups.
Stealing someone's personal information without their permission
What is Identity Theft?
True or False? It is permissible to conduct business with someone on the OFAC list.
What is False?
The Organization that collects and collates CTRs and SARs to help prevent Money Laundering.
Who is FinCEN - the Financial Crime Enforcement Network?
The process of separating proceeds of criminal activity from their origin by transactions such as purchasing money orders/officials checks or requesting wire transfer
What is Layering?
Its capital is Tripoli and it is on the OFAC financial sanctions country list
What is Libya?
What is an acceptable circumstance under which an IT or Service Desk representative can ask you for your Login ID and password?
What is NEVER?
Software that can be installed on your computer without your consent to obtain personal information that can lead to identity theft.
What is Spyware?