Just curious - because I heard this is possibly something come down the pipeline and coincidentally I viewed a webinar which mentioned this - are regulators asking banks to collect "expected check activity" at account opening? Thank you.

Depends on the risk profile of the customer in most banks.

How would you even monitor for such activity? I can see through balance fluctuations or through the course of an investigation, you review checks issued from the account. Is there a AML automated software that would even capture checks paid?

I assume you are thinking about checks deposited, not checks written...

There has been an unjustifiable amount of "regulatory inflation" in the amount of activity banks are expected to collect at account inception in the name of AML. This information might be very helpful in projecting the need for different products or services; e.g. account analysis, remote deposit capture, etc. but as a facilitator of money laundering? Naaahhhh.

You heard it because somebody said it, not because it was right.

The FDIC "recommended" that we collect the following at account opening: source of funds, nature of business or occupation, expected activity levels.

Thank you all.