A.C.R.O.N.Y.M.S.
CTR
What is the acronym for Currency Transaction Report?
A ________ ___ is a calendar day other than Saturday or Sunday, or a Federal holiday.
What is a business day?
A U.S. Treasury agency that administers and enforces economic and trade sanctions based on foreign policy and national security goals.
What is OFAC?
A check written with a future date.
What is a post-dated check?
A bank rule that prescribes the time frame within which the Bank must make funds from a deposit available.
What is Reg CC?
MIL
What is the acronym for Monetary Instrument Log
Electronic payments, wire transfers, cash, and "On Us" checks are just a few examples of ____ ___ ____________.
What is Next Day Availability?
A financial crime management software used to help banks and credit unions prevent fraud and meet BSA/AML compliance.
What is Verafin?
A check that hasn't been cashed or deposited within a specific time frame, typically six months from its issue date.
What is a stale check?
What is 30 days?
BSA
What is the acronym for the Bank Secrecy Act?
A _______ ___ specifically refers to days when banks are open and conducting normal operations, which excludes weekends and holidays.
What is a banking day?
A type of report that must be filed if monetary instrument is sold by cash for $10,000.01 or more.
What is a Currency Transaction Report (CTR)?
A person to whom money is paid or is to be paid, especially the person to whom a check is made payable.
What is a payee?
The typical length of most Reg CC holds.
What is seven business days?
What is the acronym for Anti-Money Laundering?
_____ ______ deposit accounts and _______ accounts are expressly excluded from Regulation CC.
What are Money Market and Savings?
A U.S. law that requires financial institutions to help government agencies detect and prevent money laundering and other financial crimes.
What is the Bank Secrecy Act?
A check where the financial institution draws on itself using verified, available funds, and is signed by someone authorized to act on behalf of the institution.
What is an official or cashier's check?
A key monetary threshold in U.S. banking law.
What is $6,725?
OFAC
What is the acronym for the Office of Foreign Assets Control?
An account is defined as a ___ _______ during the first 30 days after initial opening and deposit, but only if each customer on the account does not already have an existing transaction relationship with the Bank.
What is a new account?
A record required to be created if a stored value card or official check is purchased using between $3,000 to $10,000 in cash.
What is a Monetary Instrument Log?
A financial tool used to transfer or store value, essentially functioning like cash.
What is a monetary instrument?
The form required to be completed when placing a manual Reg CC hold.
What is a Notice of Hold?