IF AN INDIVIDUAL CHANGES THEIR TRANSACTION TO AVOID A CTR FILING, SHOULD THE MSR MUST COMPLETE A SAR COUPON?

CHESTER GOES TO THE TELLER WINDOW AND PRESENTS A CHECK FOR $13,000 AND CASH IN THE AMOUNT OF $300 FOR DEPOSIT TO HIS CHECKING ACCOUNT. IS A CTR REQUIRED?

What does BSA stand for?
Banker Secrecy Act
Bank Secrecy Act
Burger Sauce Association
Bank Secrecy Agency

SHOULD A MSR COMPLETE A SAR COUPON IF AN INDIVIDUAL, WHEN OPENING AN ACCOUNT, PRESENTS IDENTIFICATION THAT APPEARS TO HAVE BEEN ALTERED?

FINANCIAL INSTITUTIONS MAY CHOOSE TO HAVE A KNOW YOUR CUSTOMER (KYC) POLICY AS PART OF ITS BSA/AML COMPLIANCE PROGRAM.

WHICH IS NOT EXAMPLE OF A MONETARY INSTRUMENT?
a. CASHIER’S CHECK
b. TRAVELER’S CHEQUE
c. GIFT CHECK
d. ALL OF THE ABOVE ARE EXAMPLES

SAR stand for Suspicious Activity Report?

WHAT IS THE PURPOSE OF THE CTR? (CAN BE MORE THEN ONE)
a. THE PAPER TRAIL THE CTR LEAVES COULD TRIGGER A LAW ENFORCEMENT INVESTIGATION
b. TO ENSURE FINANCIAL INSTITUTIONS KNOW HOW MUCH CASH COMES INTO OR LEAVES THEIR INSTITUTION
c. A WAY FOR LAW ENFORCEMENT TO LINK TOGETHER INFORMATION FROM MULTIPLE FINANCIAL INSTITUTION

What are the three independent steps of money laundering?

If a member comes in to deposit $11,000.00 in cash into a checking account with a joint owner, we do not have to file a CTR on the joint owner since they are not present. Yes or no?

A CTR( Currency Transaction Report) must be filed for cash transactions of $10,000.01 or more. How long should a copy of this form be retained?

What is the record retention for maintaining SAR records?

What doe CTR stand for?