CIP and OFAC Review

True or False: Navy Federal only scans the names of new members against the OFAC list once.

True

False

If and individual presents a type of govt-issued I.D. that you do not recognize, what should you do?

Use the I.D. anyways and place notations

Contact SOC to see if the I.D. is acceptable.

Refer to the current I.D. checking guide at your branch office to see sample of the I.D. you are viewing.

Advise the individual that you are unable to process the transaction due to the unrecognized I.D. type.

True or False: Everyone, even the board of directors, is required to be trained on BSA compliance.

True

False

A member comes into the branch to purchase a cashier's check payable to AAH IMPORTS. ETS responds with a red stop sign. What should you do?

Inform your team leader

Contact BSA

Continue with transaction

Inform the Daily Prophet

None of the above

Choose all that apply. Failure to comply with specific provisions of the Bank Secrecy Act (BSA) can result in substantial civil and criminal penalties to:

Individual Employees

Navy Federal

Gringotts Goblins

When a financial institution verifies the identity of a customer before establishing a new account relationship, it is called what?

Enhanced Due Diligence

Customer Identification Program

Customer Due Diligence

Choose all that apply. Prior to opening an account, we are not required to ask for:

Name

Marital status

Date of Birth

Tax identification number

Wizarding Lineage

Choose all that apply. The following are examples of a few items of information Navy Federal collects as part of customer due diligence for entities.

Number of employees

Source of funds

Purpose for which the account is being opened

Govt-issued Business licence

Hogwarts House

Which of the following is part of KYC?

CDD

CIP

EDD

All of the above

KYC means:

Know Your Cat

Know Your Customer

CIP means:

Customer Identification Program

Customer Is Pawesome

CDD means:

Customer Due Diligence

Customer do dougie

EDD means:

Enhanced Due Diligence

Electronic Dance Music

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