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How many members are part of the Compliance team?
6
If you need help to understand the 3 stages of money laundering, who should you call?
Compliance Team OR Your Manager
AML
anti-money laundering
Name the location where you can find Compliance related documentation
MCAN Intranet
Who is our CAMLO?
Mike
What is one of the three phases of Money Laundering?
Answers include: Placement, Layering Or Integration
KYC
Know Your Customer
Name an example of a privacy incident
Answers include: Misdirected emails, attachment errors
Name two Pillars the Compliance Team is responsible for?
Answers include: AML/ATF, Fraud, Privacy, Records Management, RCM
Name a Canadian bank that got fined
Answers include: TD, CIBC, RBC
UTR
Unusual Transaction Report
When would you file a UTR?
When any red flags are identified - ex. misrepresented docs/info, privilege payments seem too high based on income/financial profile, info found out about criminal ties, foreign/sanctioned country affiliation
Where can you find the Compliance team at company events?
By the food, eating OR At the bar
Name a high risk industry for money laundering
Answers include: Real estate, Businesses, Gambling, Cash intensive businesses, Laundromats
RCM
Regulatory Compliance Management
What is the risk of non-compliance with laws/regulations?
Answers include: risk of fines, penalties, loss of licenses, economic/reputational harm, and jail time
Name 3 of the compliance team members.
Answers include: Mike, Chloe, Karen, Naima, Fernanda, Misty
Name a red flag for Money Laundering
Answers include: high volume cash transactions, clients payments do not match their financial profiles
ATF
Anti-Terrorist Financing
Who is responsible for Compliance at MCAN?
Everyone!