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Fraud Exam Review > FRAUD EXAM REVIEW > Flashcards

FRAUD EXAM REVIEW Flashcards

1
Q

What is Civil Administrative Forfeiture?

A

Without going to court
No Real Property
Applies to all Cash and Monetary Instruments
CAFRA applies
Personal property < $500,000 each item of property

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2
Q

What is Civil Judicial Forfeiture?

A 
Decided by Federal Judge
CAFRA applies
CAFRA allows for forfeiture of FUNGIBLE property
Real Property
Personal property >$500, 000
Contested Forfeiture
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3
Q

What is 49 USC 80302?

A

PROHIBITIS use of Aircraft, Vehicles, Vessels to transport carry conceal possess, used to facilitate contraband.

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4
Q

Can you seize a vehicle under 49 USC 80302 if carrying hundreds of CFT CREDIT CARDS?

A

NO, not included in the definition of contraband under the statute

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5
Q

What are the VISA security features?

A

Dove Hologram
All VISA account numbers start with 4
The BIN must match the first four digits of the account #
VISA brand mark in lower right corner
VISA debit card has “debit” printed above VISA brand mark
Full or partial acct # is indent-printed on the tamper evident signature panel
The 3 digit CVV is in the right corner of signature panel
Some cards have a holographic magnetic strip featuring doves

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6
Q

What is the FMS 1133R or 5-89?

A

Release of Claim form when the payee remembers they received and/or cashed the check

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7
Q

18 USC 1028

A

Fraud in connection with ID documents

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8
Q

18 USC 1028A

A

Aggravated fraud in connection with ID docs. Not a stand alone crime, mandatory minimum 2 years, consecutive

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9
Q

18 USC 1029

A

Access Device Fraud

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10
Q

18 USC 1030

A

Computer fraud

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11
Q

Is a “Walmart” computer a protected computer?

A

FALSE

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12
Q

Does USSS require that Miranda be read from the card?

A

No, it suggests it should be

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13
Q

CVV, Card Verification Value

A

VISA

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14
Q

CVC, Card Verification Code

A

MasterCard

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15
Q

CID, Card Identification Number

A

Discover or AmEx

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16
Q

BIN

A

Bank Identification Number, usually the first four digits of the account number

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17
Q

What is Regulation CC?

A

Regulated when deposits are available to consumers, minimum of 2 days for check to clear

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18
Q

Who does record checks, link analysis, etc.?

A

CRS, Criminal Research Specialist

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19
Q

When can you use a seized vehicle?

A

Only after it is forfeited

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20
Q

Which card is a travel & entertainment card?

A

AmEx

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21
Q

Which card starts with 3?

A

AmEx

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22
Q

Which card starts with 4?

A

VISA

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23
Q

Which card starts with 5?

A

MasterCard

24
Q

Which card starts with 6?

A

Discover

25
Q

What is the threshold for someone to be charged with 18 USC 1029(a)(2), stolen credit card?

A

$1000 within one year

26
Q

What is the threshold for someone to be charged with 1029(a)(3), possession of unauthorized/counterfeit access devices?

A

15 or more counterfeit and/or unauthorized access devices on one occasion

27
Q

What is a SAR?

A

Suspicious Activity Report (cannot be disclosed)

It is sent to FinCEN

28
Q

What is a CTR? What is the dollar amount a CTR has to be filed on?

A

Currency Transaction Report

$10,000 or more

29
Q

Examples of nontraditional financial institutions

A 
Western Union
Casinos
car dealerships
brokerages
check cashers
30
Q

What is Regulation E?

A

Electronic Funds Transfer Act

31
Q

What does Regulation E establish?

A

basic rights, liabilities and responsibilities of consumers and financial institution

32
Q

What does Regulation E require merchants to have on receipts?

A

Amount, Date, Type, Terminal location, At least 4 digits of the account number

33
Q

What is the primary objective of Regulation E?

A

the protection of individual consumers engaging in electronic funds transfers

34
Q

Does Regulation E cover store value cards?

A

NO

35
Q

Types of credit card scams

A 
check kiting
bust out
advance fee fraud
telemarketing fraud
crime bank fraud
check fraud
cc fraud
mortgage fraud
money laundering
36
Q

If a financial institution document is photocopied is it counterfeit or fictitious?

A

counterfeit

37
Q

What’s the difference between a counterfeit and fictitious document?

A

counterfeit is an altered genuine document

fictitious is a completely made up document

38
Q

How are travelers checks used to commit fraud?

A

Buy something small and get large amounts of change back

39
Q

Who are the major players in mortgage fraud?

A 
Appraiser
Mortgage broker
Lender
Investor/recruiter
Realtor
Title company
Borrower
Straw purchaser
Seller
40
Q

What’s the best way to identify a counterfeit credit card?

A

compare it to a genuine

41
Q

What value do you list on a 1544 for a credit card?

A

No value

42
Q

What’s the potential value for a credit card?

A

Either the credit limit or $500 if the credit limit is unknown

43
Q

What are the timelines for reporting on a T-check claim?

A

60 days for a regular claim

30 days for a congressional referral

44
Q

What does IOD stand for?

A

Investigation Other District

45
Q

What’s a spurious check?

A

A genuine T-check issued to a fictitious payee

46
Q

What designation does a Spurious check case get?

A

“S” for Special

47
Q

What charge is used if a spurious check is negotiated?

A

18 USC 495

48
Q

T-check security features

A 
Bleeding Ink on the US Treasury seal
Microprinting on endorsement line (USAUSA)
Watermark
Ultraviolet overprinting
Signature block
49
Q

What are the first 2 things you tell a person to do when their account is compromised?

A

Close the account

Get a credit report

50
Q

What is a closed card?

A

A traditional “gift card” that can typically only be used at a specific merchant i.e. Target, Walmart, etc…

51
Q

What is a semi-closed card?

A

Cards issued by a third party permitted to be used by multiple merchants in a given area i.e. Arundel Mills Mall gift card

52
Q

What is FMS and CRD?

A

Financial Management Service

Check Claims Group

53
Q

Who maintains US Government’s financial integrity by adjudication and settlement of claims?

A

CRD, Check Claims Group

54
Q

Who provides financial information for all inquiries related to all T-check claims?

A

CRD, Check Claims Group

55
Q

Who processes requests for copies or digital images of T-checks for the USSS and other agencies?

A

CRD, Check Claims Group

Fraud Exam Review (1 decks)

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