Exam (elaborations)
APRP - Payments Risk Policy & Governance (10) (part 2)(32 questions and answers).
- Course
- Institution
APRP - Payments Risk Policy & Governance (10) (part 2)(32 questions and answers).
[Show more]
Content preview
APRP - Payments RiskPolicy & Governance
(10) (part 2)(32
questions and
answers)
Procedure (defined)
Manner in which an organization will proceed,
perform or effect something to accomplish a
process.
Set of instructions or methods to accomplish the
objectives of a policy.
What Procedures must identify
Who is responsible
What needs to be done
Where can the information be found
When is the time frame for completion
Why (Compliance with polices, regulations, rules
and agreements)
Common Procedures for all Payment Systems
Account Opening and Disclosures
Security Procedures
, Reconciliation
Contingency Planning
Exception Handling
Error Resolution
Training
BSA/AML/OFAC Procedures
Customer Identification Program (CIP)
Customer Due Diligence (CDD) Rule
Currency Transaction Report / Suspicious Activity
Report (CTR/SAR)
Office of Foreign Asset control (OFAC)
CIP Procedure (part of BSA/AML/OFAC)
Identifies information that needs to be gathered
Define how it is documented and retained
CDD Procedure (part of BSA/AML/OFAC)
Identify and verify the beneficial owners of legal
entity account holders.
CTR/SAR Procedure (part of BSA/AML/OFAC)
Define when and how these reports must be
completed
OFAC Procedure (part of BSA/AML/OFAC)
Define how to deal with a suspect or true hit
against OFAC's Specially Designated Nationals
(SDN) list.
Vendor Management Procedure
On-boarding
- Required information
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GUARANTEEDSUCCESS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62890 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
