Exam (elaborations)
APRP Legal Framework (solved & updated 2024)
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APRP Legal Framework (solved & updated 2024)
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APRP LegalFramework
(solved &
updated 2024)
NACHA Operating Rules - answer Primary source
for rules and regulations for the Commercial ACH
Network (Payment System: ACH)
ECCHO Rules - answer Govern image exchange
between members. (Payment system: Check)
Card Network Rules - answer Proprietary rules
issued by Visa, MasterCard, etc. (payment system:
Card)
31 CFR 210 - answer Provides the regulatory
foundation for use of the procedures covered in
the Green Book in the handling of federal
government ACH payments. (payment system:
ACH)
, 31 CFR 240 - answer Covers Treasury checks
(payment system: checks)
Office of Foreign Assets Control (OFAC) - answer
Administers economic sanctions and embargo
programs that require assets and transactions
involving interests of targeted countries, targeted
country nationals, and other specifically identified
companies and individuals to be frozen. (payment
systems: ACH, Check, Fedwire & Card)
Bank Secrecy Act/Anti-Money Laundering
(BSA/AML) - answer Requires U.S. financial
institutions to assist U.S. government agencies to
detect and prevent money laundering. (payment
systems: ACH, Check, Fedwire & Card)
USA PATRIOT Act (Uniting and Strengthening
America by Providing Appropriate Tools Required
to Intercept and Obstruct Terrorism) - answer Act
broadened the scope of the Bank Secrecy Act to
focus on terrorist financing as well as money
laundering.
• CIPs (Customer Identification Programs) require
financial institutions to complete the following
prior to opening a new account:
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