BSA Compliance Quiz #4 (2014)

Sample question: 

1. Last month, Mr. Parry opened a share checking account at the J. Lucas Federal Credit Union, which is located in Columbus, New Mexico. Mr. Parry’s account has received fifteen wire transfers in amounts ranging from $1,250 to $1,750 from locations in Los Angeles, California; Chicago, Illinois; Boston, Massachusetts; and Washington, DC. This is a possible red flag indicator for human smuggling and may warrant further investigation by the credit union.

True__   False__


NAFCU's compliance resources library offers an easy way to search and find helpful information for credit union compliance officers in a variety of formats. Search articles, charts, common questions and answers, final regulation summaries, regulatory alerts and more. It's the easiest way to find up-to-date regulatory compliance information you need.

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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