BSA/AML
Bank Secrecy Act
What does BSA stand for?
Member is claiming their credit or debit card was lost or stolen, but they performed transactions with the card after the fraudulent transactions occurred.
What is a red flag?
Suspicious Activity Report
What is a SAR?
Currency Transaction Report
What does CTR stand for?
1 day float, 2 day float...
What is a 5 day float?
FinCen, AML, and OFAC.
What runs NFCU's BSA?
Funds used to support terrorist act or organizations.
What is terrorist financing?
Any government-issued photo ID must be inspected with...
What is a fraud fighter pen?
An attempt to break up transactions into smaller amounts for the purpose of evading the CTR reporting requirement is
What is structuring?
checks that are issued by (AFAS),(AER), (CGMA), and (NMCRS)
What are military relief checks?
All employees of NFCU are responsible for..
Who is responsible for reporting suspicious activity?
DO NOT negotiate. It should be not be returned to presenter, it should be retained and submit suspicious deposit referral form...
What is a Fraudulent Check?
A form used to verify member identity upon agreeance with NFCU membership
What is a NFCU 97hx form?
Transaction can not be completed when...
What happens when a member refuses to do a CTR?
Cashier's, certified, official, and teller's checks from other institutions...
What is next day item?
BSA was originated and designed to help...
What is the US Department of Treasury?
Involves a __ sum of cash, regardless of the member's account balances (usually anything over $10,000 but could be less).
What are large or unusual transactions?
_ are unacceptable forms of ID for CIP.
What is a temporary ID?
The information reported on CTR assists law enforcement to identify and prevent money laundering and terrorists financing.
What is the purpose of filing a CTR?
All other types of checks drawn on other financial institutions...
What is a non - next day item?
An Anti-Money Laundering legal framework that requires financial institutions (including credit unions) to assist the US government agencies to detect and prevent money laundering.
What is BSA?
Placement, layering and integration.
What are the three stages of money laundering?
___ versions of identification are not allowed..
What are electronic IDs?
A report required when members conduct transactions incoming or outgoing totaling _ or more in one business day?
What is the withdrawal/deposit amount that will trigger a CTR?
New update to the check hold calculator.
What is online resources?