We are trying to get a handle on our AML software and trying to set guidelines for those reviewing AML reports. I know everyone it trying to do the same thing. We are trying to figure out a good list of questions to ask our commercial lenders and private bankers once an account hits our AML reports. Hopefully this will help us get a feel for their customers and what type of activity running through those accounts. We really need to figure out what is appropriate and reasonable for that individual. Any suggestions on a list of good questions we can ask. I'm really struggling with this. I tried to locate a good tool in the Bankers Tools section but couldn't locate anything. Any input is appreciated.

It seems it might be a good idea for some BOLers to form an informal group to "share" ideas. Perhaps a conference call. Not sure how to start off..perhaps one or 2 banks could volunteer to review what they have done, how they have set up reports (with or without extra AML software, how they flagged high risk accounts and what they do once they are coded high risk, what they do to investigate suspicious activity, etc.) The conferences are always at a higher level but it seems it would be helpful for us to share some hands on real life info.

Thoughts?

Maybe I will run a conference! Where should we meet?

But, seriously, I think some idea sharing could benefit us.

Kaybee

I would love to be part of the conference call. I just joined our bank and am still learning the ropes here but would love to participate. I'll PM you. What a great idea.
Thanks.

Maybe we could put together a questionaire to survey participants to see how we all handle this sensitive topic. I will give this some thought.

My bank is currently using an AML software and we too are tasked with having the Loan Officer/Operations Manager ask specific questions to identify and understand the customer's activity that appeared as suspicious in nature. I would like to participate in the conference call. I would be willing to share my experiences in the procedures I developed for reviewing customer's that have hit the AML report.

We have 4 banks interested (including mine)..so I will contact each and see what we can set up. If anyone else is interested, let me know here or via PM.

Our bank is getting ready to evaluate AML software products, with the intent of making a purchase during the First Quarter of 2005. I would like hear what other banks are using for software, how they are using it, what reports are generated, and if the software is proving beneficial in both identifying potentially suspicious activity, as well as cutting down on the time it takes an employee to review for suspicious activity. Count me in !!!

You are in. I am bailing out early today to head for the beach so will email all next week to set something up.

Anyone who has not PM'd me with their email, please do so. Otherwise email me at blanchardk@yanb.com

Are you concerned mainly about commercial lenders & private bankers, or AML in general?

Do you mean outside of banking? I am concerned about bsa/aml in general in a bank. That is what falls under my responsibility.

We have 9 banks, including mine, interested in sharing our processes, questions, regulator experiences, best practices, etc. I have drafted a preliminary 'overview' document and sent it out for comments and will set up a conference call.

If anyone else is interested, let me know via PM or direct email to blanchardk@yanb.com.