ACAMS
"It would behoove you to know..." (Take Aways)
GSU...
Name that Alert Rule
Hodge Podge
100
These are policies and procedures used to determine the true identity of a customer and the type of activity that is “normal and expected” and to detect activity that is “unusual” for a particular customer.
What is KYC (Know Your Customer)
100
These were important take aways from the SU's May 2012 meeting. (name three)
What are: • Review FINRA, NFA and SEC websites • Send resumes to TLs by the end of May • Request access to the SharePoint site • Complete compliance trainings • Notify Team leads/Leann of any AMLRS associated to payment made to loans from 3rd parties or other banks. There were more...
100
BIN LADEN is an example of an individual you would have found on this OFAC list.
What is the Specially Designated Nationals and Blocked Persons List?
100
This transaction would cause an alert to raise for this rule. 04/05/2012,DDA-123456789, $11,930.00, Branch Cash Credit
What is (New Account High Cash Deposit Value) 1 or more account cash deposit(s) conducted during a calendar month with total cash deposit value greater than $10,000.00 in a personal account with an account age less than 60 days.
100
This individual is Union Bank’s Cheif BSA and Security Officer.
Who is Bill Ward?
200
This Italian immigrant spent 10 years in jail (in the US) for a crime in which her defrauded $40,000 people out of $15,000,000.00. (hint: involves investing)
Who is Charles Ponzi?
200
You can find Meeting Minutes, SU Presentations, and will be uploading our PTO/OOP reports here soon.
What is Sharepoint?
200
This group Administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted
What is OFAC (Office of Foreign Assets Control)?
200
These transactions would cause an alert to raise for this/these rule(s). 04/23/2012, DDA-123456789, $9,500.00, Branch Cash Debit 04/24/2012, DDA-123456789, $9,500.00, Branch Cash Debit
What is (3P Debit : Cash Structuring: $9.0k - $10.0k Cash Debits - Personal) For personal accounts, 2 or more cash debits conducted during a calendar month in which the transaction value is greater than or equal to $9,000.00 and less than or equal to $10,000.00. (1P Debit : Cash Structuring: Consecutive Day Cash Debits - Personal) For personal accounts, 2 or more cash debits conducted on consecutive days during a calendar month in which the transaction value is greater than or equal to $3,000.00 and less than or equal to $10,000.00 and the aggregate value of the consecutive day transactions aggregate to greater than $10,000.00.
200
On April 5th, 2012 the OCC issued a cease and desist order against this financial institution for violating the Bank Secrecy Act which included their lack of filing SARS in a timely manner, specifically associated to Remote Deposit Capture
Who is Citibank?
300
A group chartered by a body of seven industrial nations to foster the establishment of national and global measure to combat money laundering.
Who is FATF (Financial Action Task Force)?
300
Three components that analysts are required to send to the Team Leads (copy Leann) within our end of month stats email.
What is Monthly OOP totals (excel attachment), Weekly OOP report, Monthly Totals within the email?
300
Name all of the countries associated to OFAC's comprehemsive sanction program.
Who are Iran, Cuba, Northern Sudan, and Syria?
300
These transactions would cause an alert to raise for this/these rule(s). 05/10/2012, DDA-123456789, $11,000.00, Branch Cash Credit 05/12/2012, DDA-123456789, $5,000.00, Branch Cash Credit 05/20/2012, DDA-123456789, $11,000.00, Branch Cash Credit Note: Account open date: 05/01/2012
What is Existing Acct Moderate Cash 3 or more account cash deposits conducted during a calendar month with total cash deposit value greater than or equal to $20,000.00 and less than or equal to $50,000.00 in a personal account with an account age greater than or equal to 60 days.
300
This check clearing act paved the way for the development of Remote Deposit Capture creating a new negotiable instrument called a “substitute check”.
What is Check 21?
400
These individuals are hired by money launderers to go from financial institution to financial institution purchasing monetary instruments or depositing currency or monetary instruments in amounts under the reporting threshold.
Who are smurfs?
400
Known for being the largest independent regulator for all securities firms doing business in the United States.
What is FINRA (www.FINRA.org)?
400
These are all examples of OFACS Limited sanctions. (name at least four)
Who is Somalia Burma (Myanmar) North Korea Lebanon Cote d’Ivoire (Ivory Coast) Dem. Republic of Congo
400
These transactions would cause an alert to raise for this/these rule(s). 03/28/2012, DDA-123456789, $9,975.00, Foreign Wire Credit, Originator: CONNIE CASTRO, NIGERIA (GUARANTY TRUST BANK UK LIMITED) – memo: CAR PURCHASE 03/29/2012, DDA-123456789, $9,975.00, Foreign Wire Credit, Originator: JESSICA ALLEN, NIGERIA (GUARANTY TRUST BANK UK LIMITED) – memo: CAR PURCHASE
What is RULE 215: 2 or more account wire transfer(s) conducted during a calendar month with a dollar value between $9,000.00 and $10,000.00 to or from a high-risk jurisdiction.
400
Name the four (4) CVIP Grid codes associated to RDC alerting and explain each...
What is • C = Critical > GSU • V=Valuable > IU • I= Investigative > SU • P=Probative: Informational
500
A scheme in which the use or extension of credit is obtained and is increased fraudulently while the perpetrators avoid having to pay back the illegally obtained credit or goods.
What is a Bust-Out Scheme?
500
This organization’s mission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.
What is the US Securities and Exchange Commission? (http://www.sec.gov/)
500
These are situations/types of alerts that the GSU is wanting to see... (please indicate four different alert types/situations)
What is... Any transaction involving incoming wires from a high risk jurisdiction, particularly the Middle East, and a client with a presence in a sanctioned country (e.g., RCIF record indicates Burma, Iran or Syria). The presence may include citizenship and/or place of birth in the sanctioned country. Wires involving Cuba. RDC hits explicitly involving OFAC matters. RDC Iran Connect hits EQARs involving the proposed transfer of funds to or from an OFAC sanctioned country.
500
These transactions would cause an alert to raise for this/these rule(s). 03/20/2012, DDA-123456789, $70,000.00, Domestic Wire Debit, Beneficiary: PATRICIA MALONE, USA (BANK OF AMERICA) 03/20/2012, DDA-123456789, $20,000.00, Foreign Wire Debit, Beneficiary: SHANNON BLOOD, ETHIOPIA (COMMERCIAL BANK OF ETHIOPIA) Please note that our client's address is listed in Ethiopia...
What is Rule 205: 1 or more wire transfer(s) conducted during a calendar month for an individual (i.e., personal) account with a dollar value equal to or greater than $30,000.00 to or from a high-risk jurisdiction. Rule 210 2 or more wire transfers conducted during a calendar month for an individual (i.e., personal) account occurring on the same calendar day to or from a high-risk jurisdiction with a minimum transaction value of $1,000.00.
500
Name three (at least) Operational Risks associated to Remote Deposit Capture.
What is Redeposit of items/duplicate presentment Alteration of deposited items/forged endorsement Deposit of counterfeit items Poor image quality Safety and integrity of deposited items held by customers (i.e., protection of personal information) Proper disposal of deposited items by customers Customer authentication when accessing the RDC system Data security of and lack of encryption in the RDC system Reliability of the RDC vendor
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