Human Financial Crimes
True or False: Elder Financial Exploitation is more likely to be committed by family members than non-affiliated parties?
True
True or False: It is permissible for a membership applicant to only provide a PO Box or PMB as their address.
False
A CTR is required for cash transactions conducted by, or on behalf of, one person, as well as multiple currency transactions that aggregate over _______ in a single day.
$10,000
This is a deliberate misrepresentation to gain another's money, assets or information. What am I ?
What is Fraud?
One of the oldest tricks in banking. A customer writes checks from one financial institution to another, however funds are non-existent and/or not available on the date of the deposit. What game is the customer playing or what type of fraud is this?
Check Kiting
True or False: When handling a situation of Elder Financial Exploitation or Human Trafficking, you should never attempt to isolate the victim from their potential abuser/trafficker.
False
Someone is trying to open an account using a counterfeit ID what is talking place?
What is Identity Theft?
________ is the act of the concealing or disguising of the origins, sources, or nature of illegally obtained funds.
Money Laundering
What is it when a person pretends to be an existing member when calling REV or pretends to be a REV employee when calling a member?
Impersonation Fraud
The illegal use of checks for financial gain is? (forgery, counterfeiting, washing)
What is Check Fraud
The sudden addition of a previously uninvolved relative or associate as a joint owner or Power of Attorney can be a red flag for what kind of crime?
Elder Financial Exploitation/Elder Abuse
What tool is available for verifying an ID?
What is the ID Checking guide?
What four piece of information must be included in your email to BSA Compliance for a potential OFAC hit?
Name, SSN/TIN, DOB, Address
Frequent Retail, Grocery, or Drug Store POS purchases for round-dollar transactions are often associated with purchases for what scam?
Gift Card Scam
Unusually frequent charges for hotels, AirBnB, VRBO, airlines, and other travel-related activity can be red flags for what kind of crime?
Human Trafficking
Which of the following is not a “Primary” form of ID?
State ID, Mexican Consular ID Card, Foreign Passport, Employment Authorization Card.
Mexican Consular ID Card
A _______ involves funds deposited in one geographical area that are then withdrawn in a significantly different geographical area, with little time elapsing between deposits and withdrawals.
Funnel Account
Lacking awareness of one’s whereabouts, being unclear on the details of his/her financial activity, and lacking control/possession on his/her ID, money, or other documents can be red flags for what kind of crime?
Human Trafficking
The act that involves breaking up a large sum of money into smaller amounts, distributing the funds amongst multiple individuals who then make deposits into various accounts, often at various locations.
Smurfing
A Non-US Citizen is considered a Resident Alien if they have a Permanent Resident Card (aka Green Card) or can pass _______?
A Substantial Presence Test
Risks associated with the source of funds/wealth, potential increase for foreign transactions, and risks associated with country of residence are all risks associated with _______?
Non-Resident Aliens
A _______ is a business that appears legitimate but is actually used to mask or conceal the source of proceeds from illegal activities.
Front Company
________ is the act of breaking a large cash transaction into smaller transactions to avoid reporting requirements.
Structuring