BSA/ AML
If a coupon is submitted with inaccurate or incomplete information, ___________________________________ to override the prior submission.
a new coupon must be submitted immediately
Cash in the amount of ___________________ is withdrawn or presented for deposit, payment, or purchase of negotiable instruments.
$10,000.01 or more
True or False: All of the following are acceptable occupations to list on CTR- Retired, unemployed, and disabled.
FALSE
True or False: A SAR is confidential and should NOT be shared with the individual you are submitting it on OR anyone else.
TRUE
Account activity that can be signs of financial abuse are: ________________, _______________, ______________, ________________, _____________________.
BSA/ AML file these types of reports ______________, ___________, and _________________.
Currency transaction report (CTR), suspicious activity report (SAR), elder abuse and at-risk persons
Any type of negotiable instrument(s) in the amount of $10,000.01 or more is _________________________________________.
cashed and the cash leaves Navy Federal
True or False: When a joint owner is present during a transaction over the CTR threshold, their information is not required in the CTR.
FALSE
SARs are used to report the following: _______________, ________________, ___________________, and ______________________________.
Money laundering, terrorist financing, tax evasion, and other federal crimes.
The financial abuse/ exploitation of an elder is usually committed by ___________, ___________, ____________, and _________________.
family, friends, caregivers, and financial professionals hired by the elder.
If contacted by BSA/AML to provide more information for a CTR, team members must make every effort to promptly collect the requested information and respond within ________________________.
2 business days.
Currency is _________________ in the amount of $10,000.01 or more
exchanged
True or False: A PO Box is an acceptable address to include in CTR
FALSE
After submitting a coupon, you may receive a request from the BSA/AML Compliance Branch if more information is required. The request will appear in your email inbox. You have _____________ to reply to the request.
24 hours
True or False: Like targets are elderly/ at-risk people who have no friends or family nearby, disabilities, memory problems, and dementia.
True
The BSA/ AML uses the CTR coupon information to file an official CTR with ______________________.
Financial Crimes Enforcement Network (FinCEN)
A deposit to ____________________ totaling over $10,000.01
multiple accounts
An attempt to break up transactions into smaller amounts for the purpose of evading the CTR reporting requirement is called ______________.
Structuring
True or False: Once the coupon has been submitted, it cannot be edited.
TRUE
True or False: If you suspect that the account holder is being taken advantage of as due to their age or mental/physical capacity, you must complete an Elder Abuse & At-Risk Persons Coupon through UAD to refer the matter to Security. The information should be as complete and thorough as possible.
TRUE
The act requires financial institutions to keep records of cash purchases of negotiable instruments, file reports of cash transactions exceeding $10,000 (daily aggregate amount), and to report suspicious activity that might signify ____________________________________________________.
money laundering, tax evasion, or other criminal activities.
Any currency going in or out on a _______________ and ____________/ same business day totaling over $10,000.01.
Saturday and Monday
__________________ is to be completed if member/ non-member refuses to provide information for the CTR or changes the amount to avoid the CTR.
Suspicious Activity Report (SAR)
If the suspicious activity has already been reviewed by Security and there are notations in UAD, ________________ a SAR coupon.
do not submit
True or False: The completion of an Elder Abuse & At-Risk Persons Coupon is strictly confidential, and federal regulations prohibit disclosing this information. Do not share with anyone that you have completed a coupon, unless it is for a business purpose. Do not tell the person involved that you have submitted a coupon on their activity.
TRUE