There has been quite a bit of debit card fraud occurring at the bank with various customers. Should this require a SAR filing regardless of the dollar amount?
I would like to know for compliance the rules of non-exempt versus exempt for employees in a banking setting. What criteria must be met for the employee to be marked exempt? Are there any legal risks in paying exempt for non-exempt classified employees but still offering overtime pay?
Can the bank legally close or freeze an account that is suspected of money laundering and hold the funds in a general ledger account pending investigation?
Why does regulatory compliance cause significant overheads?
Is it possible to reduce compliance issues with better imaging processes?