Most Popular Security Content
Moms, Children and Check Kiting
07/04/2005
Two questions regarding kiting.1) We have an account for an individual who writes a check from bank A (us) to her daughter. This item is deposited into Bank B. Then daughter writes check from Bank B (same amount) for our customer to deposit into Bank A (us, again) either same day or next. Does this fall under 'kiting'? 2) Also, we have a mother who monthly writes out 4 checks to her children (1 per child) and then re-deposits into the same account the checks are written from. Is this an issue? We aren't sure that the children are endorsing the checks sometimes they are endorsed For Deposit Only. Please advise on both of these issues.
Have You Checked Your Core Vendor Contract Lately?
07/04/2005
Have you thoroughly read and understand the cost and fees associated with termination of your core processing contract in the event you wish to change vendors?
Guru Says "Annual Reviews Required", Is this True?
07/04/2005
In a recently posted Guru Q&A relating to the annual review of government agency exemptions from CTRs, the guru stated those exemption's must be reviewed annually. I do not believe this is correct. Everything I have read states that annual reviews are not required for government entitites that are exempt under the Phase I exemptions. Could you point me to something from FinCEN or the BSA rules that mandates the annual reviews for government entities?
Selling Repossessed Autos
07/01/2005
Tooele Federal Credit Union has partnered with TitleAuctions Inc to offer repossessed autos online.
Bank Re-Entry Not a Good Idea
07/01/2005
Knute Falk, 54, from Beaverton, Oregon, was out of cash, and decided to rob a bank. He made a few mistakes.