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#1438459 - 09/02/10 06:57 PM Deposit "Correction"
lesterpester Offline
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lesterpester
Joined: Apr 2010
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The Great State of Texas
Perplexing...
A customer drops off a cash deposit with a branch manager and then leaves the branch. The branch manager writes up a deposit ticket and hands over the deposit to a teller. Once the cash is counted, the teller notices it is short $1000. The branch manager counts the deposit and changes the deposit amount on the slip to the amount the teller counted. A few days later, the customer notices the deposit amount and asks the branch manager about it. He tells her that he is certain he brought in the right amount of money, but has no way to prove it because his accounting predures are "not adequate" - his words. To keep this "good customer" happy, she takes $1000 from the Teller Over/Short GL and credits the customer's account. The branch manager's supervisor was notified, but not sure what came of it. My question is whether or not her actions can be considered suspicious and reportable; and, if so, what reason is checked on the SAR. I appreciate any and all input. Thanks, guys!

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#1438466 - 09/02/10 07:04 PM Re: Deposit "Correction" lesterpester
rlcarey Online
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rlcarey
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Galveston, TX
Unless you think that the branch manager or teller pocketed the money, then the threshold for a SAR has not been reached.

It does show the cost for the lack of internal controls, i.e., non-teller accepting a deposit, accepting cash outside of a dual control environment, etc. More should happen to the branch manager than a little chat.
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#1438469 - 09/02/10 07:05 PM Re: Hmmm... lesterpester
Pat Patriot Act Offline
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In my opinion, no. Is it a poor decision? Probably. Is it a criminal act? Probably not.
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#1438475 - 09/02/10 07:08 PM Re: Deposit "Correction" rlcarey
Doug Hendrickson Offline
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Randy, for my continuing education, the SAR limit would be $0 if we suspect that the branch manager violated the law (e.g., theft), no?

I agree though that without more information I would not file a SAR; but would argue for a written warning to the branch manager and communication to all branch managers as to the process.
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#1438486 - 09/02/10 07:13 PM Re: Deposit "Correction" Doug Hendrickson
rlcarey Online
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rlcarey
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Galveston, TX
Doug - correct - insider activity for any amount is reportable - I saw one where they suspected that an employee was stealing candy bars from the bank's vending machine.
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#1438494 - 09/02/10 07:21 PM Re: Deposit "Correction" Doug Hendrickson
lesterpester Offline
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lesterpester
Joined: Apr 2010
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The Great State of Texas
I was leaning towards a "no", but I wanted to double-check myself and cover my rear. Thanks!

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#1438495 - 09/02/10 07:22 PM Re: Hmmm... Pat Patriot Act
Doug Hendrickson Offline
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Thankfully 'stupidity' is not one of the categories. laugh
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