Most Popular Security Content
Exempt Customer Purchases New Business
07/04/2005
We have a business exempt from CTR reporting. The business owners have recently purchased another business that is held as a separate entity with a different EIN. The same person (one of the owners) deposits cash exceeding $10,000 into both accounts on the same day. Do I wait for one year to exempt the second business? If so, how do I report the cash transactions until that year is up? Remember, one business is exempt, the other is not but the same person deposits the cash. Or is it permissible to exempt the second business based on the established relationship with the business owner?
If I'm Going, Then I'm Driving!
07/04/2005
Should my bank outsource or be on-premise for core processing?
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.
2004 Bank Holiday issue
07/01/2005
Question: I went back to our copy of Bankers' Hotline Volume XIII, Number 7 to double check on our holiday schedule.
Two Wrongs Don't Make a Right
07/01/2005
In North Oakland, California, a woman who was an accountant at a medical center managed to embezzle $1.4 million over six years before she was caught.