BSA Trivia

CTR

100

What does CTR stand for?

(Large) Cash Transaction Report

200

Once a year a list is updated with certain customers we no longer have to run CTRs on, what is that list called?

The Exemption List

300

What are three of the most important fields that should be filled in on a CTR?

Any Three Of: Taxpayer Identification Number ID Method and Number Physical Address Date of Birth Occupation

OFAC

100

What pages should you print of the OFAC check for filing/ documentation purposes?

ALL pages should be printed.

200

If there is a hit while running an OFAC check what should you do?

First verify if there is a mismatch in information. If the hit is acurate you should immediatly bring it to a supervisors attention.

300

What does OFAC stand for?

Office of Foreign Assets Control

ACH

100

What does ACH stand for?

Automated Clearing House

200

How many parties are in a ACH transaction?

5

300

What are the five parties to an ACH Payroll transaction?

1. Originator (Employer) 2. Originating Bank 3. Federal Reserve (ACH Operator) 4. Recieving Bank 5. Reciever (Employee)

WIRES

100

Who do you give a Wire Transfer Form to once completed?

Chelsea (When on leave give to Courtney)

200

Where do you go to get the electronic form for Wire Transfers?

Compliance One

300

What wire system do we use?

Fedwire

AML

100

How many stages of Money Laundering are there?

3

200

What are the stages of Money Laundering?

1. Placement 2. Layering 3. Integration

300

What is the name of one of the most recent laws that has come into effect to help prevent Anti-Money Laundering?

Uniting and Strengthening America by Providing Appropriate Tools to Restrict, Intercept, and Obstruct Terrorism Act of 2001 OR USA PATRIOT ACT