05/21/2007
I have been newly appointed to a bank Board of Directors and have little banking knowledge. I have been approached by one of our tellers with a concern about CTRs. It seems that on a regular basis (couple times a month) a customer comes into the bank with two checks around $6500.00 each and has them cashed. One is in his name the other is in his father’s name. Each time he is alone and walks out of the bank with around $13,500.00 cash. My teller is afraid that this is a BSA violation. Is this a violation? Would this at least warrant a Suspicious Activity Report?
05/14/2007
Does bait money have to be in consecutive numerical order, or is this just a good idea?
04/01/2007
John S. Burnett, BOL Associate Editor
03/19/2007
What is the purpose for changing the bait money on a teller station semi-annually or annually? Is this a law or regulation?
12/11/2006
Our BSA officer requires all tellers to make copies of the cash-in and deposit slip for all transactions either by themselves or aggregate for any cash amount over $3,000. We do have a computer generated report that lists all larger currency transactions that we can use to file a CTR if needed. Are these copies necessary? From what I have learned, no copies are needed as long as you have something in place to track large cash deposits.
10/23/2006
This question is in regards to teller procedures: Where in the Bank Secrecy Act does it state that tellers must run tickets when doing a currency exchange?
10/16/2006
It is my understanding we can not use social security and VA direct deposits to offset overdrafts and fees. We have a customer ($2.00 in a passbook) who owes us for $800 in returned check items (2) that she cashed. She will be bringing in her social security check to cash. Can we take that to offset her returned deposited check items?
11/21/2005
Can the account example below be opened if titled like this? It would be under John's social security number:John Doe DBA John's Cleaning DBA Jane's Closet
11/07/2005
One of our tellers has obtained an Order of Protection against an ex-boyfriend who has threatened her. The order required him to stay away from her residence, but did not include her place of work (our bank) since he has an account here. If we close his account, then the bank can be added to the Order of Protection. Can we close his account? Do we need to list a reason?
11/01/2005
We ran a series of eight training pages for the security officer written by Dana Turner early this year. This month's training page aims at determining what you've retained from those pages.