02/22/2010
If money is wired into a bank to purchase a CD through the Public Fund Deposit Program, is the customer exempt from the CIP requirements of the USA Patriot Act? I have been told that he/she would be exempt, but I would like to have proof that this is true.
12/07/2009
Our internal auditor was asking how we monitor loan activity. We are not sure if the BSA person is responsible or if the loan department is responsible. Can anyone give me guidelines?
10/26/2009
Are we required to run OFAC checks of domestic banks before sending an outgoing wire, orr are we only required to check international banks?
08/31/2009
We have recently acquired a new financial institution. Do we need to file a Designation of Exempt Person form as "exemption amended" on all their exempt customers to list us as the filing financial institution?
06/01/2009
We are putting together our BSA training schedule. What courses are required annually and what can be done every other year or on an alternative schedule?
03/16/2009
How are banks impacted by the FACT Act?
03/16/2009
With all the change going on inside our bank during this economy, much attention has been focused on expense reduction and process improvement. How do we focus on revenue growth during all the turmoil?
01/26/2009
I was told by our auditor that personal accounts can’t be used to conduct business transactions and if it happens, a SAR should be filed. Is this correct?
12/08/2008
Among credit risk, market risk and operational risk, developing a good operational risk management program seems to be the most challenging. Can't our existing compliance processes (e.g., AML, Red Flags, GLBA, etc.) contribute to operational risk management?
11/24/2008
Our regulators have requested that our bank more clearly define and document its credit policies. What should be included?