BSA Compliance Quiz #4 (2013)

Sample question: 

1. Charley Malloy, a 70-year old member of your credit union, has been very ill. He now uses a wheelchair and depends on a caregiver, Johnny Friendly. Today, Charley is withdrawing $5,000 in cash from his savings account. Charley says it is because he wants to go shopping but he is vague about what he plans to buy. Johnny never leaves Charley’s side throughout the transaction. This could be a “red flag” indication that Charley might possibly be the victim of financial exploitation by Johnny. 

True__     False__


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Note: NAFCU offers these resources for general informational purposes only. These resources are not intended to serve as legal advice or the legal opinion of NAFCU. NAFCU strongly recommends that each member presented with a compliance issue consult with its own legal counsel and/or outside legal counsel experienced in compliance matters before proceeding.

 

 

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