Trivia Questions Quiz On Fighting Identity ThEFT With The Red Flags Rule!

The correct answer is to contact the Fraud Group because they have to review the message on the credit report. This is because the presence of a credit bureau special message note on Qualifile indicates a potential issue or discrepancy in the credit report. It is important to address this matter with the Fraud Group to ensure the accuracy and legitimacy of the application. Ignoring it or continuing with the application without reviewing the message may lead to complications or potential fraud. Denying the application without further investigation would also be premature.

The correct answer is to send an email to the Fraud Group informing them of the suspicious activity. This is the appropriate action to take in this situation because the sudden excessive amount of ATM and cash withdrawals, combined with the presence of a new person claiming to be a home health care worker/friend, raises concerns about potential financial exploitation or fraud. By notifying the Fraud Group, they can investigate the situation further and take appropriate measures to protect the elderly member from any potential harm or scams.

The correct answer is to ask for a second form of proof of address showing a residential address. This is because having a P.O. Box on a driver's license indicates that the applicant may not have a residential address listed on their license. Therefore, it is necessary to ask for another document that can confirm their residential address.

A credit freeze is a security measure taken by an individual to prevent unauthorized access to their credit report. By placing a block on their credit report, the applicant ensures that no credit can be pulled without their authorization and knowledge. To unfreeze their report, the applicant needs to contact TransUnion, the credit reporting agency, and request the removal of the block. This measure is often taken to protect against identity theft and fraudulent activity.

The behavior described in the question is suspicious because the member frequently deposits cash but avoids going to the same teller and frequently calls the Call Center to ask about cash deposits and limits. This pattern of behavior raises concerns about potential fraudulent activity. Therefore, it is appropriate to notify the Fraud Group, who can investigate the matter further and take necessary actions if needed.

The correct answer is to contact the Fraud Group to review. This is the appropriate action to take when receiving a ChexSystems response stating "Customer on Hot List." The Fraud Group is responsible for investigating and verifying any potential fraudulent activity or suspicious behavior. By contacting them, they can review the situation and provide guidance on how to proceed with the applicant.

An international driver's license is not acceptable for identification because it is specifically issued for the purpose of allowing individuals to drive in foreign countries. While it may contain personal information and a photo, it is not considered a valid form of identification in most situations, particularly for official purposes. Other options listed, such as U.S. Military identification, U.S. Passport, and State issued identification, are generally accepted and recognized forms of identification.

The correct answer is to contact the Fraud Group to have them review the alert in case there is a phone number or other message that needs to be verified. This is the appropriate action to take when encountering a credit freeze on an applicant's ChexSystems report. Contacting the Fraud Group ensures that any potential fraudulent activity is thoroughly investigated before proceeding with opening the account.

The correct answer is to hand the applicant the adverse action form and tell them to make sure all credit bureaus are up to date and there are no outstanding Chexsystems records. This is the appropriate action to take when an applicant is automatically declined. It ensures that the applicant is aware of the denial and provides them with information on how to address the issue by contacting ChexSystems and checking their credit bureaus.

The correct answer is both a & c. Asking the member to verify how the checks were deposited and pulling copies of the checks before conducting any transactions are both important steps to ensure the legitimacy of the mobile deposits and prevent fraud. By verifying how the checks were deposited, the member can provide additional information or documentation that can help determine if the deposits are legitimate. Pulling copies of the checks allows for further investigation and comparison to ensure they are not fraudulent.

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"Randomized" issuance means that the social security numbers are no longer associated with a specific state. This means that the numbers are assigned in a random manner without any connection to the state in which the individual resides. This change was implemented to enhance security and protect against identity theft.

A cable bill should not be accepted as proof of address because it does not provide sufficient evidence of residency. Cable bills typically only include the address where the service is being provided, which may not necessarily be the same as the individual's residential address. Therefore, it is not a reliable document to verify someone's address.

Both an international driver's license and a credit card with a photo on it are not acceptable forms of identification. This means that if someone presents either of these forms of identification, it will not be considered valid. Military identification, on the other hand, may be an acceptable form of identification depending on the situation. Therefore, the correct answer is that both options A and B are not acceptable forms of identification.

The correct answer is to do all three actions mentioned. This is because the member's request for a large cash withdrawal, combined with the recent unusual mobile deposit, raises suspicion of potential fraud. By pulling a copy of the deposit and verifying the validity of the check, you can ensure that the funds are legitimate. Asking the member if a check would be okay can help confirm their intentions and further validate their request. Reviewing the FBI fraud poster and the list of questions can provide additional guidance and help you identify any red flags or signs of fraudulent activity. By performing all three actions, you can take necessary precautions to prevent fraud and protect the member's account.

If the address on the application does not match the address on ChexSystems or the credit report, it would be considered a red flag. This could indicate that the applicant has provided false information or that there may be discrepancies in their personal information. Further verification may be required to ensure the accuracy and legitimacy of the applicant's details.

The correct answer is "I complete the log for b & c only" because in scenario b, the member makes a cash deposit of $4000.00 in the morning and later withdraws a check for a car loan. This qualifies as a cash deposit over $10,000.00 followed by a withdrawal, which requires the completion of the Monetary Instrument Log. In scenario c, the member deposits $5000.00 in cash into their personal account, deposits $1000.00 into the business account, and then requests a check from the personal account. This also qualifies as a cash deposit over $10,000.00 followed by a withdrawal, requiring the completion of the log. Scenario a does not meet the criteria for completing the log.

If an "ID failure" response is received when running an applicant through ChexSystems a second time, it is not okay to do so when the license is entered incorrectly or when the name is spelled wrong. This suggests that the identification information provided is incorrect or does not match the records in ChexSystems, indicating a potential issue with the applicant's identity verification. However, it is still okay to run the applicant through ChexSystems a second time if the Social Security number is entered incorrectly, as this does not directly relate to the applicant's identity verification.

The correct answer is "Both a & b." This means that a "warm address" response indicates that the address may be a possible fraud address, and as a result, the reviewer should carefully review the Qualifile. Additionally, the reviewer should also deny the member immediately. Therefore, both options a and b are correct.

An expired license with a current bank statement can be used as identification for an elderly person opening an account. The expired license serves as a form of photo identification, while the current bank statement provides proof of address. This combination ensures that the person's identity can be verified and their address can be confirmed, which are important requirements for opening an account.