10/18/2004
Can an LLC use a Social Security number? If so, how would you style the ownership interests -- the customer's name on the first line and DBA the business name on the second line?
08/30/2004
08/16/2004
We have a customer that insists that it is a violation of the "Privacy Act" to require an SSN from them as a condition of doing business. They further insist that we are required to have a "Privacy Act Release Statement", signed by them, on file. They claim that this is backed up by the Social Security Administration. I have never heard of this and can find no legal citation for it. To the contrary, a number of laws require that we collect this information. Have you ever heard of this?
08/01/2004
FinCEN, working with the Internal Revenue Service Criminal Investigation?s Refund Crimes Section, undertook an in-depth review of refund anticipation loan fraud schemes and related Suspicious Activ
03/01/2004
We had a person call one of our offices trying to verify the Routing number and account number on one of our customers. He had claimed he was the customers brother and needed $20,000 transferred via ACH or Money Wire because the account holder had been in a terrible accident out of state. Our staff refused to give out any information and the person kept threatening with vulgar language. The person called and spoke to three tellers trying to get the same information. The staff called the customer up and informed him what had taken place. Would we be required to file a SAR because of such activity? There is no name, except for a fake one the person gave us. If it is what would be the summarization of the activity?
02/23/2004
When opening a Limited Liability Corporation can you use the individual's social security number, or should the customer obtain a federal tax ID number?
12/01/2003
FinCEN (The Financial Crimes Enforcement Network) has modified the Currency Transaction Report (CTR), IRS Form 4789.
11/03/2003
Three family members pled guilty to charges including bankruptcy fraud, structuring, providing false statements, and mail fraud for their involvement in a bankruptcy fraud scheme that included stru
11/01/2003
Overall, financial institutions continue to do an excellent job of reporting suspicious activity, but improvements can be made.
11/01/2003
Depository Institution SARs (Treasury Form TD F 90-22.47) filed in paper format should be mailed to: