Show:
ABCs
Who
What
When
Why
100
CTR
What is the Currency Transaction Report?
100
Banks, Trust Companies and Credit Union
Who needs to complete CTRs?
100
An attempt to disguise the source of a sum of money.
What is Money Laundering?
100
On March 31, 2013 FinCEN stopped accepting SARs and CTRs in his manner.
What is "snail mail" or via the U.S. Postal Service?
100
The form that must be submitted for a series of 4 $3,000 cash deposits into a single member's account in a single business day?
What is the CTR?
200
BSA
What is the Bank Secrecy Act?
200
The Organization that collects and collates CTRs and SARs to help prevent Money Laundering.
Who is FinCEN - the Financial Crime Enforcement Network?
200
The reason we must file CTRs
What is to prevent Money Laundering?
200
An occasion that is suspicious when a SAR is not required
When the activity has been reported to law enforcement?
200
The form when 10 different people each make a cash deposit of at least $2,000 intot he same new account on the same business day.
What is both a CTR and an SAR?
300
SAR
What is the Suspicious Transaction Report?
300
The identification of the person actually making the deposit.
What is is the Identification information required to complete a CTR when the account holder is not the person making hte deposit?
300
A single Member makes several deposits each under $10,000 in a single day, but that total more than $10,000.
What is structuring?
300
How long does a Financial Institution have to submit a CTR.
What is 15 CALENDER Days?
300
A member makes a deposit of $7,000 in cash, and a check for $6,200. Later in the day he requests a check in the amount of $10, 352.00.
What is a normal transaction that requires no BSA reporting?
400
FinCen
What is the Financial Crime Enforcement Network?
400
No one but those who absolutly need to know especially not the member.
Who can you tell about the filing of an SAR?
400
$10,000.01
What is the amount of cash that triggers a CTR?
400
Within 30 days of determining that the activity is suspicious.
When is the deadline for submitting an SAR?
400
You think that a member is stealing fertilizer, pressure cookers and money from the Garden/Hardware Center where he works and depositing the cash into an account at your institution. Today he is depositing $8,000.00. Later his good friend make another deposit of $4,000 and asks if you do internatiional wire transfers.
Why you should complete both an SAR and CTR.
500
OFAC
What is the Office of Foreign Assets Control?
500
Willie Sutton
Who said "Becasue that is where all the money is" when asked why he robbed banks?
500
The form used to notify regulators of any suspicious activity occuring on an account.
What is an SAR or Suspicious Activity Report?
500
September 11, 2001
When is the trigger that created the Patriots Act?
500
To stop Money Laundering Activity and because the NCUA says we have to.
Why we care about BSA, CTRs, SARs, OFAC, FinCEN, etc.