Across
- 5. Helps a bank understand the customer's risk profile, including their source of funds, expected transaction types, and general financial behavior.
- 6. Funds are reintroduced into the economy and used to purchase legitimate assets or to fund further criminal or legitimate activities.
- 7. Involves more in-depth analysis and additional steps to understand the customer's source of funds, the legitimacy of their business activities, and their transaction patterns.
- 8. Required for any transaction involving more than $10,000 in cash conducted by, through, or to the institution in a single business day.
- 11. Involves classifying customers into different risk categories, which helps determine the level of scrutiny and frequency of monitoring required.
- 13. Individuals who hold or have held prominent public functions, along with their family members and close associates.
Down
- 1. Banks must maintain detailed records for the sale of __________ totaling $3,000 or more in currency.
- 2. Records must be retained for five years and made available to the Secretary of the Treasury upon request.
- 3. Funds are transferred or moved between accounts or other financial institutions where they are mixed with legitimate funds and separated further from their criminal origin.
- 4. Cash profits from criminal activity are converted into monetary instruments, such as money orders or traveler's checks, or deposited into accounts at financial institutions.
- 9. Involves collecting basic information like the name, address, date of birth, and social security number (or other identifying number) to confirm the customer's identity.
- 10. Treasury group that enforces foreign asset controls.
- 12. ________ are measures imposed by governments to restrict economic activity with certain countries, entities and individuals.