Is “Bait Money” required by regulation?

Answered by:

Question:

I have been told that the regulations require every financial institution to have bait money. So, are we required to have bait money at every teller window?

Answer:

Bait money is one of the suggestions outlined in the regulations for financial institutions. We will review these and other items that are suggested as well as those that are required for the financial institution's security program.

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