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#647920 - 12/06/06 07:00 PM Merchant Deposit Capture
BSA4LIFE Offline
Gold Star
Joined: Nov 2003
Posts: 284
California
Would someone share with me the possible BSA risks and concerns in regards to merchant deposit capture? I would be interested in hearing from anyone who is currently offering this product and would be willing to share their experiences. Please PM me. Thank you

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#648749 - 12/07/06 06:55 PM Re: Merchant Deposit Capture BSA4LIFE
Uncle_Milty Offline
Gold Star
Joined: Jun 2002
Posts: 434
New Jersey
I'm considering offering the product as well, and hadn't come across any BSA concerns. The merchant is the customer, and presumably you have done all the necessary checking of the merchant. Why should it make a difference if they deposit over the counter or using a remote electronic method? I see fraud considerations, duplicate scanning considerations, and other reasons you might want to cover yourself with your customer.

If anyone has any BSA issues I'd appreciate a PM as well. Thanks

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#648799 - 12/07/06 07:30 PM Re: Merchant Deposit Capture Uncle_Milty
Cornfed Turtle Offline
Diamond Poster
Joined: Mar 2006
Posts: 1,323
"...Somewhere in Middle Americ...
When we started our remote product, we thought of one additional risk that came into the BSA risk assessment. A PM is coming to both of you.

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#648800 - 12/07/06 07:30 PM Re: Merchant Deposit Capture Uncle_Milty
Cornfed Turtle Offline
Diamond Poster
Joined: Mar 2006
Posts: 1,323
"...Somewhere in Middle Americ...
When we started our remote product, we thought of one additional risk that came into the BSA risk assessment. A PM is coming to both of you.

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#649021 - 12/07/06 09:52 PM Re: Merchant Deposit Capture Cornfed Turtle
remerson Offline
New Poster
Joined: Nov 2006
Posts: 21
would you email that to me as well

remerson@guarantystate.com

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#649223 - 12/08/06 03:14 PM Re: Merchant Deposit Capture remerson
Cornfed Turtle Offline
Diamond Poster
Joined: Mar 2006
Posts: 1,323
"...Somewhere in Middle Americ...
Glad to share. Check your PMs.

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#649460 - 12/08/06 06:40 PM Re: Merchant Deposit Capture Cornfed Turtle
walden Offline
New Poster
Joined: Jul 2005
Posts: 12
I would like to to receive your email, too.

Thanks

donna.cochran@eclipsebank.net

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#649640 - 12/08/06 09:03 PM Re: Merchant Deposit Capture walden
IronWill Offline
New Poster
Joined: Nov 2006
Posts: 11
Florida
Please email me as well.

Thanks.

beardsleyw@ffsb.com
_________________________
His judgement cometh....and that right soon.

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#650047 - 12/11/06 01:10 PM Re: Merchant Deposit Capture IronWill
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,793
Cape Cod
Hey, gang! Did you know that you can send one PM to up to five registered BOL users? All you need to know is their screen names. You can add names in the first field of the PM screen.

PMs are now private threads, so that if you include 5 addressees, each of them can see the others' comments to your message. You also get to remove yourself from a PM thread if you don't want to participate in it.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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#694057 - 02/27/07 07:28 PM Re: Merchant Deposit Capture Cornfed Turtle
VirginiaBanker Offline
100 Club
Joined: Nov 2005
Posts: 112
Can you PM me your list of risks associated with remote deposit capture> thanks

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#694058 - 02/27/07 07:29 PM Re: Merchant Deposit Capture Cornfed Turtle
VirginiaBanker Offline
100 Club
Joined: Nov 2005
Posts: 112
Can you PM me your list of risks associated with remote deposit capture> thanks

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#694192 - 02/27/07 10:14 PM Re: Merchant Deposit Capture BSA4LIFE
AR Banker Offline
New Poster
Joined: Jun 2006
Posts: 1
Arkansas
I would also like to recieve a list of risks. We are thinking of adding this product.

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#694694 - 02/28/07 06:49 PM Re: Merchant Deposit Capture AR Banker
Anonymous
Unregistered

If its not a secret, why not share in this forum? or the Private Forum?

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#696412 - 03/05/07 05:31 PM Re: Merchant Deposit Capture
Cornfed Turtle Offline
Diamond Poster
Joined: Mar 2006
Posts: 1,323
"...Somewhere in Middle Americ...
The other great thing about the PM is that I know to share! Sorry that I stopped checking this post. And I tend to keep everything BSA related in the PM world - - - I don't know, just a good habit?

I got a couple of PM requests - - - so I will forward to you all.

CT

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#696801 - 03/05/07 09:36 PM Re: Merchant Deposit Capture Cornfed Turtle
Moving Forward Offline
Member
Joined: Feb 2004
Posts: 56
Michigan
Just wanted to share one of the items regarding Risk Assessment & RDC that I came across. You should consider the increase risk of kiting by merchants using RDC. We rely heavily on our front line staff to identify potential kiting schemes and without seeing the physical checks coming through, we may end up as the last one in the game (a.k.a. Loser ). We utilize our core system's kite suspect monitoring, but in the last six years, it has never identified an actual perpetrator. However, our tellers have and I'm happy to say we haven't experienced a loss yet.

The white paper (Remote Deposit Capture - A White Paper Addressing Regulatory, Operational and Risk Issues by NetDeposit)recommends stating in your Agreement that the customer is not allowed to deposit checks issued by and drawn on the customer and/or their affiliates.

For a host of whitepapers addressing RDC, go to: http://remotedepositcapture.com/WPC/white_papers.htm

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