07/15/2018
Based on the change to Texas law Sec. 506.001. CONCEALED HANDGUN LICENSE AS VALID PROOF OF IDENTIFICATION.
(a) A person may not deny the holder of a concealed handgun license issued under Subchapter H, Chapter 4l l, Government Code, access to goods, services, or facilities, except as provided by Section 52l.460,Transportation Code, or in regard to the operation of a motor vehicle, because the holder has, or presents, a concealed handgun license rather than a driver's license or other acceptable form of personal identification.
Does this mean that community banks must accept the concealed handgun license as a primary form of identification? Or can we use it as secondary to other identification and still be within the law?
05/06/2018
Regarding CTR forms, what is the definition of "Shipment" on box 24c "Mail Deposit or Shipment." Looking for clarification of when this would be utilized?
04/29/2018
While conducting our annual DOEP/CTR reviews we identify potential new customers that may qualify for exemption. We have one that is a non-profit corporation, a religious order, that has a DBA account that operates a private school. Their source of cash is donations they solicit for the operation of the school. They do an excellent job of fundraising and have enough transactions to qualify for exemption. I have been unable to find a definitive answer in guidance that this sort of non-profit operation qualifies as a "commercial enterprise" under the regulation. I found an old reference back in 2004 to a private school that would not be eligible for exemption, but nothing more recent and nothing specific in the updated guidance. Can this type of entity be considered for exemption? Thank you.
03/04/2018
A business customer deposits $9,750.00 in cash to their checking account and then gives the teller $300.00 in bills to get coin. Is a CTR needed and if so do you report $10,050.00 as cash in and nothing in the cash out column or $300.00 in the cash out column?
02/04/2018
What information is a bank employee allowed to give a customer regarding the CTR?
11/16/2017
I am in the process of exempting a business as a Phase II Customer. It is a local grocery store that is a registered MSB (due to cashing checks over $1,000). Can an MSB be exempt under Phase II? I have been told by an examiner that yes they can, but then I have been told by a rep from FinCEN that no they can not. Also, if they can be exempt, what forms besides the BSA Exemption Review Form do I need to obtain? We only have one other Phase II Exemption who also provided their P&L's. This business, however, is not willing to provide this information. I have weighed out if it would just be easier to go ahead and continue filing CTR'son this business, but with at least 4 CTR's per week, it would be better to exempt.
10/15/2017
I have a SAR filing question, regarding NAICS codes. We have an internal Quality Assurance Department that reviews all SARs filed in our BSA/AML Department. We are being advised to apply NAICS codes based on the type of industry an individual is employed in; For example we have an individual that is employed as a SCHOOL NURSE – I believe the NAICS code should be 6213 “Office of Other Health Practitioners." However, my QA team is suggesting we use NAICS code 611 “Educational Services.”
Other Examples
Anesthesiologist with Conta Costa County we used 6213 “Office of Other Health Practitioners” – my Investigator was told to change this individuals NAICS code to 923 “Public Administration/Administration of Human Resource Programs, because the individual is employed with the County of Conta Costa. Or Accountant for New Beginnings we used 5412 “Accounting, Tax Prep” – my Investigator was told to remove 5412 and instructed to leave the NAICS code field blank because we could not definitively identify what type of business New Beginnings operates. I would greatly appreciate your interpretation or any reference materials like a previous FinCEN FAQ or SAR Activity Review Trends, Tips & Issues that would clarify or address this issue.
10/15/2017
Are there any rules that specify when it is necessary to amend or correct a CTR? We have had not CTRs rejected by the IRS. However, we have come across a couple forms where there could be better information provided in the area of occupation or beneficiary information. Should be automatically file an amendment?
09/17/2017
A customer has an account titled as a DBA. This customer comes in cashes check for $12,000. stating it is for personal use. Does the DBA name need to be on the CTR?
01/08/2017
When you exempt a customer from BSA reporting, can you exempt all their transaction accounts even though only one is showing routine reportable activity?