Home Library Explore SAT

Home Library Explore SAT

BSA OFAC Staff 2017 Flashcards | StudBud

Explore/BSA OFAC Staff 2017

BSA OFAC Staff 2017

10 terms·StudBud Administration·68 plays

Bank Secrecy Act and Office of Foreign Assets Control

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
A CTR (Currency Transaction Report) must be filed when a transaction of cash:
is used to purchase a cashier check
is Suspicious
equals $10,000.01 or more
equals $10,000 or more
2
A SAR is used to report:
check kiting
embezzlement
all of the above (and more!)
elder abuse
3
At CWCU, who is responsible for meeting BSA requirements?
Board of Directors
Everyone
Management
BSA Officer
4
Everyone that we do business with (even non-members and vendors) must checked against OFAC:
False
True
5
If I fill out a SAR memo, I can submit it:
in paper or electronic form
to Molly, Karen, or Jon
anonymously
all of the above
6
A sweetheart scam:
involves Valentine's Day candy
is when a member receives money from a loved one
usually starts with an online, long-distance "relationship"
is when your significant other says "it's not you, it's me"
7
If "something ain't right" and I want to file a SAR memo, I can find it:
intranet and general drive: CTR folder
general drive: CTR folder
intranet
in the break room, where you find anything and everything.
8
At account opening, we must verify identity with a minimum of:
$10,000 cash deposit
Name, DOB, Address (PO Box ok!), Tax ID, photo ID
mother's maiden name
Name, DOB, Address (no PO Box) , Tax ID, photo ID
9
The 3 stages of money laundering are:
stacking, concealing, replenishing
layering, placement, concealment
layering, placement, integration
wash, dry, repeat
10
Bank Secrecy Act doesn't apply to me because:
Nothing bad ever actually happens.
I trust all our members and employees.
I know that I would never do anything wrong.
JK! It DOES matter- I can go to jail if I don't comply.