Most Popular Compliance Content
Send E-SIGN
11/28/2021
What is demonstrable consent and can we do that with new account disclosures we email the new customer?
Rate Spread Calculator Use
11/28/2021
Why use the Rate Spread Calculator?
Cashing Check on DBA/Sole Prop for Business
11/21/2021
Can a customer cash a check on a DBA/Sole Prop account if the check is made out to the business?
LAR Formatting Tool
11/14/2021
What is the LAR Formatting Tool?
CTR Dilemma- Proof of Funds for Transfer
11/14/2021
We have a CTR dilemma. A customer came in with $20,000 cash. - The funds were first deposited into his account. - He then wanted to purchase a cashier check for $7,000. - He returned later the same day with an account number of a family member and wanted to transfer $18,000 using the cash deposit and preexisting funds from his account. He is not on the family member's account. The reason stated was that they are in the process of buying a house and escrow wanted him to show the proof of funds in a statement which was the reason for the transfer. How would you complete the CTR in this situation: is there only one Part 1 (customer) or two Part 1 (customer and family member)? And the $7,000, would be under negotiable instrument and $13,000 under fund transfer? We also plan on filing a SAR.