Most Popular Operations Content
Responding to Social Security information requests
02/16/2025
A previous manager who left our bank previously signed up to receive SSI 4641 requests electronically. We have been getting emails from the service about these requests, but we are trying to find out if we are required to respond. I read that it's legal for the Social Security Administration to request this information, but couldn't find anything stating that banks must comply,especially since i have seen that majority of the types of requests can be fake or won't have customer authorization attached to them. Are we required as a financial institution to comply with these requests?
Fraud claims and chip cards/mobile wallets
02/16/2025
I have two questions. While I understand that fraud claims cannot be denied for chip-present transactions, I have a scenario where I'm seeking clarification. If a member fills out a fraud claim form indicating that their card was in their possession at all times, but the network data confirms that the chip was present during the fraudulent transaction, can we deny the claim in this instance, considering the card was in their possession during the fraudulent transactions where the card was present? Additionally, for token transactions, if a member claims fraud on transactions made using a mobile wallet (e.g., Apple Wallet), and I can see multiple other transactions were made on the same token associated with the Apple Wallet, are we able to deny the claim? I was under the impression that a token is unique to a specific device or digital wallet and cannot be used on another device or wallet. Please confirm if this is correct, and whether we would be able to deny a claim based on this scenario.
Defining a SAR Subject vs. Victim
02/09/2025
ATM cash withdrawals and CTRs
02/09/2025
A customer came to the bank and withdrew $10,000 in cash, and then went to another financial institution's ATM and withdrew $400. Both transactions posted to the customer's account on the same business date. Do we need to file a CTR? If so, please explain why.
Imaging solution consolidation
02/09/2025
What happens when your check imaging solutions are fragmented?