ABCs
First laws to fight money laundering in the United States.
What is BSA?
Became required in 1992.
What is reporting suspicious transactions?
Wire transfer fraud, check fraud, or mysterious disappearances.
What is suspicious activity?
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The amount of time MILs are kept for.
What is 5 years?
The home for all our useful forms.
What is Patrons Bank Intranet?
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A report on currency transactions exceeding $10,000.00
What is CTR?
FinCEN established in this year.
What is 1990?
The process of illegally concealing the origin of money obtained from illicit activities.
What is money laundering?
Two reports that go directly to FinCEN.
What is CTR and SAR?
OFAC reports fall under this pillar.
What is CDD?
A report made when the customer seems to be trying to avoid BSA reporting.
What is SAR?
The year the SAR form was developed.
What is 1996?
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What we use to see if a customer has been involved in terrorism, narcotics trafficking, or other activities that pose a threat to the United States.
What is OFAC?
Any two requirements for MILs.
What is
1) The name of the purchaser? 2) The date of purchase? 3) The type of instrument purchased? 4) The serial number? 5) The amount in dollars of each of the instrument purchased?
The party responsible for our audits.
What is 3rd party?
Records cash purchases of money orders, cashier’s checks, and traveler's checks valued between $3,000 and $10,000.
What is MIL?
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Money Laundering Control Act passed in this year.
What is 1986?
Attempting to deposit $10,000+ over the course of a couple of days on purpose.
What is structuring?
The form that can be requested by examiners/auditors at any time.
What is MIL?
Any three of the five BSA pillars.
What is Internal Policies, Procedures, and Controls • BSA Officer • Training • Independent Testing and Audit • CDD/EDD?
The bureau we report to in The Department of Treasury dedicated to protecting the financial system from illicit activities.
What is FinCEN?
Passed in 1970.
What is BSA?
Informing the customer that a SAR has been filed on them.
What is illegal/tipping off?
Suspicious activity must be reported within this exact time frame.
What is 30 days?
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USA PATRIOT is an acronym for.
What is Uniting & Strengthening America by Providing Appropriate Tools Required to Intercept & Obstruct Terrorism?