Skip to content
BOL Conferences
Thread Options
#1130892 - 02/17/09 05:22 PM Accounts in HIDTA and HIFCA regions
GoPirates Offline
Member
Joined: May 2006
Posts: 59
For banks that are NOT located in a HIDTA or HIFCA region, do you monitor, review or even care about accounts that you have that are located in a HIDTA or HIFCA region. If so, do you have software that helps to identify those accounts?

Return to Top
BSA/AML/CIP/OFAC Forum
#1131053 - 02/17/09 07:52 PM Re: Accounts in HIDTA and HIFCA regions GoPirates
J2C Offline
Diamond Poster
Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
Our whole state is a HIFCA, and no we do not monitor every account. We do include that statement in our risk assessment so that the Board and Management are aware that we are in a HIFCA and the risk is substantially higher because of that. We just make sure we are on top of our high risk customers.

As for the HIDTA, we are about 25 miles from a county that is a HIDTA. We don't have many accounts in that area and for those that we do, some are considered high risk and others not (for other reasons, not because they are in a HIDTA). Again, we note this in our risk assessment.

The regulators have not said anything negative about this in years past.
_________________________
My opinion is mine only- not my employer's!


Return to Top

Moderator:  Andy_Z