Most Popular Security Content
Noncustomer Refuses to Provide SSN
06/22/2009
Regarding BSA, what are the bank options if a non-customer wants to cash a large on us cashier’s check, but refuses to provide a social security number?
OFAC & Purchase of Cashier's Checks
06/22/2009
We are in a discussion with our BSA officer regarding this situation and need some direction. We currently sell cashier’s checks only to customers of our institution. We currently check OFAC on the payee in addition to the purchaser (our customer) which is covered by our routine OFAC check. Periodically, we have customers who purchase cashier’s checks for other persons, such as children, family members or others and they ask us to list these other names in the remitter portion of the checks. Do we have to check OFAC on this additional person even though we have checked the payee and purchaser? If we did, wouldn't we be exposing ourselves to collect CIP since we have allowed them to conduct a transaction via our institution? We are trying to establish the line between "memo information" as the memo information on a personal check, and "memo information" as transaction information that is covered by OFAC/BSA.
CTR on Returned Stolen Money?
06/22/2009
We were robbed recently and all but $4 was recovered the same day! When the currency was returned to us, we made an in-ticket and credited the proper amounts to our tellers’ cash. Would this transaction be subject to a CTR Filing?
Surveillance Video
06/15/2009
Is there any case law that addresses the issue of banks providing surveillance video to law enforcement without a warrant or subpoena?
CTR Reporting - Customer Query
06/15/2009
Can you offer a best practice answer to customers who ask about CTR reporting requirements? Example: How much can I deposit or withdraw without it being reported?