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#2253557 - 05/06/21 03:06 PM Alien Review
Jennifer Offline
100 Club
Joined: Dec 2014
Posts: 173
Appreciate any feedback - how often does your bank review your alien customers? Do you review both resident and non-resident aliens? Or do you allow your fraud software to alert any suspicious activity?

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#2253563 - 05/06/21 03:41 PM Re: Alien Review Jennifer
CI@MBOC Offline
Junior Member
Joined: Apr 2021
Posts: 42
I assume you do your standard CIP/due diligence at onboarding, right?
As long as that's good, the financial crimes software runs its algorithm on activity. That's all we do. We treat them like every other customer for monitoring purposes.

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#2253614 - 05/06/21 10:31 PM Re: Alien Review Jennifer
Buddy the Elf Offline
Platinum Poster
Buddy the Elf
Joined: May 2002
Posts: 972
first lily pad on the right
We do the same as Cl@MBOC - we identify these customers but being identified doesn't elevate their risk or require any scheduled periodic monitoring. Monitoring is done based on alert generation from the standard suspicious activity monitoring process. We don't differentiate between resident and non-resident aliens. We treat them the same.

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#2253630 - 05/07/21 12:17 PM Re: Alien Review Jennifer
edAudit Offline
Power Poster
Joined: Jul 2008
Posts: 4,761
You are here
Would that be RA's or NRA's?

A lot of Banks do not consider RA's as anything different than citizens. Most software that I have seen adds a score for NRA's. Additionally for NRA's that have w-8 that expire in 3 years i have seen some minor additional DD at the 3 year mark.
Opinions can be considered as coming from anywhere but my employer.


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