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What is not component of SCUSA's BSA/AML program?
- A Know Your Customer (KYC)
- B Customer Identification Program (CIP)
- C Suspicious Activity Reporting
- D ID Theft Red Flags
That's Correct!
It's Wrong!
ID Theft Red Flags is not a component of SCUSA's BSA/AML program. The BSA/AML program focuses on preventing money laundering and terrorist financing by implementing measures such as Know Your Customer (KYC) to verify the identity of customers, Customer Identification Program (CIP) to collect customer information, and Suspicious Activity Reporting to identify and report suspicious transactions. However, ID Theft Red Flags specifically refers to identifying and preventing identity theft, which is not directly related to money laundering or terrorist financing.