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#1514684 - 02/25/11 04:04 PM Red Flags-Address Changes
Hammer Offline
New Poster
Joined: Feb 2011
Posts: 5
cool
Within the Reg Flags regulation, is it necessary to review every address change looking for suspicious activity?

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BSA/AML/CIP/OFAC Forum
#1514694 - 02/25/11 04:11 PM Re: Red Flags-Address Changes Hammer
Doug Hendrickson Offline
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Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
No. However, I would be on the lookout for any address discrepancies raised by a credit/debit check when someone opens an account, and if they perform certain activities (asking for a new debit card) within a 30 day period of changing the address.
_________________________
I hear and I forget. I see and I remember. I do and I understand.--Confucius

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#1514914 - 02/25/11 07:34 PM Re: Red Flags-Address Changes Doug Hendrickson
Nail Offline
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Joined: Feb 2011
Posts: 4
At our bank, we look at all the address changes.

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