Converting Cashier’s Checks and BSA

Answered by:

Question:

A person came in with a check drawn on our institution and wants to convert it to a cashier’s check. Is there a BSA issue involved?

Answer:

Yes, if you do this kind of practice you should leave the trail of remitters on the check. It may be better just to cash the check, unless it is payable to an entity. Converting checks to cashier’s checks may eliminate the source of the money if you do not handle it properly.
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