Thread Options
#911135 - 02/27/08 03:21 PM Detecting Suspicious Trends
Compliance101 Offline
Gold Star
Compliance101
Joined: Oct 2004
Posts: 473
Tennessee
I have been told by the examiners that I need to keep an excel spreadsheet of ALL large cash transactions (over 3000), all wires-incoming & outgoing, & all purchased Cashiers Checks for suspicious trends for BSA. Although we are a small bank, it still takes me a long time to enter the data into an excel spreadsheet since I have to do it manually. We have looked at some software that automatically does this and it is not feasible for us to spend that much money for a bank our size (a little over 100 mil). Does anyone have any other ideas on how to keep track of all this information? What does others do in this situation?
_________________________
"No one can make you feel inferior without your consent."
Eleanor Roosevelt

Return to Top
BSA/AML/CIP/OFAC Forum
#911140 - 02/27/08 03:23 PM Re: Detecting Suspicious Trends Compliance101
Bagweaver Offline
Diamond Poster
Joined: Nov 2005
Posts: 2,409
SW GA
Just curious - who is your regulator?
_________________________
Semiretired. Working parttime at Historic Westville as a tour guide.

Return to Top
#911344 - 02/27/08 05:17 PM Re: Detecting Suspicious Trends Bagweaver
Compliance101 Offline
Gold Star
Compliance101
Joined: Oct 2004
Posts: 473
Tennessee
FDIC
_________________________
"No one can make you feel inferior without your consent."
Eleanor Roosevelt

Return to Top
#911356 - 02/27/08 05:30 PM Re: Detecting Suspicious Trends Compliance101
Compliance Mom Offline
Junior Member
Joined: Apr 2003
Posts: 45
Tennessee
This probably isn't what you want to hear, but our institution manually logs all of these and we are substantially larger. We are in process of automating, but until then, there's really no way around it.

On the positive side, it has proven to be most helpful in detecting supicious activity that we would have never seen otherwise. In a manual environment, there's just no way for the human brain to remember individual transactions from week to week or month to month. A spreadsheet format that can be sorted by name and account number is invaluable in detecting smaller transactions that might go unnoticed.

Didn't offer any solutions, but I can empathize with your pain....

Return to Top
#911861 - 02/27/08 10:48 PM Re: Detecting Suspicious Trends Compliance Mom
Compliance101 Offline
Gold Star
Compliance101
Joined: Oct 2004
Posts: 473
Tennessee
I agree that the spreadsheet format finds a lot of trends, the problem I have is there are only 2 people in my department and we are in charge of BSA, CRA, and all compliance (deposits, lending, ops). It takes so much of my time, it feels like that is all I am doing lately. Ughhh...

I have been looking at a product from BankDirect called RiskTracker A3/AML which detects supicious activity, fraud and abuse threats (check kiting, etc...). Does anyone know about this product?
_________________________
"No one can make you feel inferior without your consent."
Eleanor Roosevelt

Return to Top
#911928 - 02/28/08 12:10 AM Re: Detecting Suspicious Trends Compliance101
What?? Offline
100 Club
What??
Joined: Feb 2007
Posts: 170
California
Can't you IT Deparment create a report for you??

Return to Top
#911999 - 02/28/08 01:57 PM Re: Detecting Suspicious Trends What??
Compliance101 Offline
Gold Star
Compliance101
Joined: Oct 2004
Posts: 473
Tennessee
They do create reports for all 3 items however, the reports do not export into an excel spreadsheet correctly. So I take the physical reports and input the data into the system manually. The only report that exports into a word document in which I have to work with to get into an excel spreadsheet is the cashiers checks. That report takes the least amount of time. The other 2 reports are the ones that take up most of my time (large cash transactions, wire).
_________________________
"No one can make you feel inferior without your consent."
Eleanor Roosevelt

Return to Top
#912062 - 02/28/08 03:04 PM Re: Detecting Suspicious Trends Compliance101
devsfan Offline
Diamond Poster
Joined: Jun 2004
Posts: 1,927
NYC
You really need to look into software.

Return to Top
#912267 - 02/28/08 05:58 PM Re: Detecting Suspicious Trends devsfan
Compliance101 Offline
Gold Star
Compliance101
Joined: Oct 2004
Posts: 473
Tennessee
That is what I was afraid of. Does anyone have any ideas for a small bank?
_________________________
"No one can make you feel inferior without your consent."
Eleanor Roosevelt

Return to Top
#912327 - 02/28/08 06:41 PM Re: Detecting Suspicious Trends Compliance101
Al Miller Offline
Diamond Poster
Al Miller
Joined: Oct 2000
Posts: 2,416
Pleasanton CA USA
"They do create reports for all 3 items however, the reports do not export into an excel spreadsheet correctly."

You and "they" are part of the same team. They speak "mainframe" and you speak "compliance". Get together with they in a room and have them look at what you need. Buy donuts.

If they can correctly format the excel spreadsheet, you can copy and paste daily in seconds.


Al
_________________________
Al Miller, CRCM
Opinions expressed are my own and not necessarily shared by my employer.

Return to Top

Moderator:  Andy_Z