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#1605793 - 09/20/11 12:25 PM Bank of Yemen
BSA all the way Offline
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BSA all the way
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Anyone have any experience with customers writing checks to others and cashed there?
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#1605929 - 09/20/11 03:21 PM Re: Bank of Yemen BSA all the way
LFTbanker Offline
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We have tended to treat them as "Activity involving a country of concern for..." and acted accordingly.

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#1605952 - 09/20/11 03:51 PM Re: Bank of Yemen LFTbanker
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Thanks LFT. Did you close the account that was writing the checks? Keep the relationship going?
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#1605975 - 09/20/11 04:11 PM Re: Bank of Yemen BSA all the way
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We have not closed the account, but they are certainly under scrutiny and that decision could change. We based our decision on the fact that it appears to be family related and a low level of activity based on the overall account.

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#1606305 - 09/20/11 11:48 PM Re: Bank of Yemen LFTbanker
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We've had a couple of customers who have sent an inordinate amount of money (from our perspective) to Yemen all via check. The funding source was most often cash. We ended up closing the account because the explanation for the activity didn't make sense.

We also had several that sent checks in much smaller amounts, less often and funded by their normal income (payroll). Those appeared to be support of family and we didn't close them.
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#1606360 - 09/21/11 01:30 PM Re: Bank of Yemen DebL
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I agree, we use the same basic analysis. We still file for funds going to this and similarly situated countries though, out of an abundance of caution.

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