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Timing Triggers for SARs
03/01/2004
This question is about BSA/Anti Money Laundering Operations. We have some conflicting points of view at our bank regarding when the clock starts (for 30 filing deadline) on SAR filings. Some staff are under the impression that we must file a SAR within 30 days of suspicious activity, whereas other staff believe the filing must occur within 30 days of when we determine that the activity appears suspicious. Which is it? We try to detect all suspicious activity through automated reports and research each month.
Common Website Violations
03/01/2004
by Andy Zavoina, CRCM
CRA: Solving the Investment Test Problem
03/01/2004
by Lucy Griffin, BOL Guru
SAR reporting
03/01/2004
Question: We offer credit cards and handle quite a few applications that appear to be fraudulent or incomplete in one way or another.
FACT ACT
03/01/2004
One of the many studies mandated by the FACT Act will be the Federal Reserve's study of prescreened credit or insurance solicitations. The study must be completed by December 4, 2004.