Gusto Security

UDAAP

100

Potential UDAAP Violations should be reported to which Gusto team? 

MBCX (Modern Bank)

300

UDAAP is enforced by which bureau?

The Consumer Financial Protection Bureau

400

What does UDAAP stand for?

Unfair, Deceptive, or Abusive Acts & Practices

500

One of the 4 Ps of the Federal Trade Commission

Prominent

Presented

Placement

Proximity 

Acronyms

100

CIP

Customer Information Program

200

FinCEN 

Financial Crimes Enforcement Network

300

KYC

Know Your Customer

400

SAR

Suspicious Activity Report

500

BSA

Bank Secrecy Act

AML

100

Placing illegal funds into the financial system with the ultimate purpose of making the money appear legitimate. 

Money Laundering

200

The first step of money laundering?

Placement

300

Laundered money is estimated to make up what percentage of the global GDP?

3.5% or approximately $2.3 trillion

400

A part of the US Department of the Treasury that administers and enforces economic and trade sanctions based on US foreign policy and national security goals. 

OFAC (The Office of Foreign Assets Control) 

500

Using clean or legitimate funds for criminal purposes is known as?

Reverse Money Laundering