The Law
The Currency and Foreign Reporting Act of 1970
What is the Bank Secrecy Act or BSA?
What a teller completes when someone conducts a cash transaction in excess of $10,000.
What is a Currency Transaction Report Worksheet or CTR Worksheet? This in an internal form that is NOT given out to customers or signed by a customer.
Where you can find information about the various BSA related processes.
What is Continuity?
This is important when trying to decide if a transaction is "suspicious."
What is knowing a customer's NORMAL transactions?
This employee came directly to FNBA from another finanical institutions.
In 2001, an accompanying BSA regulation was added to address ever evolving methods of money laundering.
What is Title III of the USA PATRIOT Act?
Who the bank will sell a monetary instrument to.
Who is a Customer? This is a bank choose to not issue monetary instrument to non-customer due to the added recordkeeping information require by the BSA.
The name of the person in the bank who is the BSA Officer.
Who Amber Parker? The Board has named Amber Parker as the BSA/AML Officer. Anyone in the bank can call Amber directly if they have any concerns about someone not handling a BSA matter appropriately.
When opening a new account, it is what must be provided for the bank to identify the person.
What is an unexpired, government issued ID? The bank's procedures lists the various types of ID that will be accepted by the bank. A supervisor may need to contact the Internal Customer Service Unit if unsure about an ID presented.
It is the order (sequence) that is to be used when counting cash being taken on deposit and entered to the Intergrated Teller calculator.
What is largest to smallest?
They range from monetary fines to imprisonment.
What are penalties for non-compliance with BSA> Every bank employee is responsible for ensuring he or she does not violate a provision of the BSA. Banks and their employees who violate the BSA, whether knowingly or unwittingly, face severe penalties. BSA is one of few laws that may fine and/or imprisonment not only at the business level non-officer employees?
It happens every month at branches and once each quarter for certain non-branch business units.
What is BSA training? The BSA is very clear that financial institutions must have ongoing training on the BSA. FNBA has found that with monthly / quarterly training helps employees remain knowledgeable about the BSA.
It is what must be done if someone will not provide sufficient information to complete a CTR worksheet.
What is Refuse the Tranasaction? This is very important. Teller should obtain a supervisor before refusing a transaction.
Something that should be done at least three times when a customer is at the branch.
What is say the individual's first name?
These branch employees have more than on child, but less than four.
Who are Shauna and Kathy?
The length of time that BSA related records must be retained.
What is five years? This includes training records, CTR Worksheets, SARs etc. The bank did not decide how long to keep such thing - the regulation did. When asked to provide such records to appropriate agencies, the bank must be able to comply.
Until this occurs, employees should not be permitted to handle customer transactions.
What is BSA new hire orientation training? It is important that new tellers, personal bankers, supervisors, etc., who interact with customers to the extent that they will handle transactions for customers have an understanding of the BSA in order to ensure appropriate report of large cash transactions occur.
It is completed when someone appears to be laundering money.
What is a Suspicious Transactions Report or SAR.
It is what is asked when someone is wanting to send a wire transfer.
What is asking "What the wire for?"
It is the only time currency straps may be left on bills when being given to a customer.
What is when they are an approved ATM customer?
It reports blocked countries/people that the bank should NOT conduct business with and something that tellers must be aware of when cashing large checks.
What is Office of Foreign Asset Control (OFAC)?
How many Divisions are there in the bank and what division does the Sitka Branch report to?
What is five? The Sitka Branch reports to the Retail, Treasury and Compliance Division.
Where all completed CTR Worksheets, including SARs are sent when completed by the branch.
Where is the BSA/AML Reporting Unit. This is a unit under the BSA Compliance Section where all cash transactions conducted by the bank are monitored to ensure the bank is filing CTR reports timely. This area receives various system reports that help identify cash in and out. How transactions are processed in Integrated Teller is important to the accurate collection of cash IN and Out information.
This is used to gather information relating to the type of business, purpose of account and anticipated transaction activity when a business account is opened.
What is a Business Account Assessment Worksheet (BAAW).
Who is Nichole? She wears very colorful outfits and her hair can also reflect bright colors.