We have a customer who is a young and receives a very small paycheck. It looks like some really big deductions are held by the employer. Is this normal?
Why does our financial institution no allow people to deposit cash into another person’s account?
If our customer uses a personal account to run a business is this a problem?
If we see a Board Member changing $5, $10 and $20s for $100s on a regular basis should we alert our BSA officer?
If the customer asks me a question on structuring is that reportable on a SAR?
If the customer attempts mortgage fraud should we tell BSA?
I am trying to create a monetary instruments log for our credit union. I have not been able to find a list of the required information needed on the log. Where can I find that information?
We have a customer who writes checks from his account at our bank (Bank A) and deposits them at Bank B. The account is overdrawn every morning. He then wires money from Bank B back to Bank A to cover the overdraft. The account is not being used as a business operating account. Each day the amount
involved gets larger. How should we address this? Is there a specific Regulation we can site for closing the account?
We suspect a customer is being used as a mule and recently received a large ACH credit. The next day, he wanted to send an international wire with the
proceeds from the credit. His explanation of where the funds came from and what they are being used for has changed several times; therefore, we froze
the account and have the funds from the ACH credit on hold. Since we suspect he received the funds fraudulently, are we under any obligation to
release these to our customer?
I attended Ken Golliher's seminar yesterday in Tulsa, it was very informative. I understood him to say that even if we don't do international transactions at this time, that he would still advise us to address Section 311 (Special Measures) of the USA PATRIOT Act in our policy/procedures. I was hoping someone
could weigh in on this for me.