Most Popular Compliance Content
Complaints, Forgeries, and a Deceased Customer
06/25/2023
We currently have an individual stating that a forgery has been committed on a DBA account that was owned by his mother. The account had an authorized signer, who was added by the account owner. The account owner passed away in November 2022 and it is the Personal Representative stating that forgeries were completed by the authorized signer's wife. I have been investigating the statements and now the Personal Representative has filed a complaint with our regulator saying we are not responding to his claim. That is incorrect. We have reached out to the bank's legal counsel on the claim, but I'm looking for advice on handling the complaint with the regulator? The forgery claim investigation is ongoing.
Facebook and Drawings
06/18/2023
Can we advertise a drawing on social media only?
8 beneficial owners in 2024? Really?
06/18/2023
Can there be 8 beneficial owners in 2024?
High Risk? Anybody or Nobody?
06/18/2023
Who is high risk for BSA?
Is a wheel-spin game allowed?
06/11/2023
We have a “spin the wheel” promotion. To spin, a customer must donate $1 that the bank donates to a charity. All the prize amounts on the wheel are more than $1 therefore all customers will get more than they donate. The amount won is then sent to the customer via our e-wallet app. We set a certain number of spins and it is done on a first-come-first-served basis.