Posted By: Wildcat Rampage
Two Questions - One of Those Days - 02/28/17 03:47 PM
I'm developing a questionnaire for our customers who own and operate ATMs. I've plagiarized the exam procedures, but management has a "why" question that I simply can't answer as I don't question why, I just simply do what the FFIEC says. I've told management that I'll do my best to find out why, so here goes. Why does the FFIEC want us to determine the ISO's target geographic market? Management feels that question is implicitly answered by the location of the ATM(s).
My second question. We have a handful of small used car lots. We're in the middle of tax refund season. These used car dealers have significantly more cash and significantly more CTRs. I feel that I understand the activity and that it is not suspicious. However, as this is my first tax season as BSA Officer here is my question - is this typical? OR is this something that is unique to "small town USA" markets where people rush to the Bank to get cash after they get tax refunds and then rush out to buy used cars with that cash? I'm trying to get a feel for future planning purposes.
Thanks in advance.
My second question. We have a handful of small used car lots. We're in the middle of tax refund season. These used car dealers have significantly more cash and significantly more CTRs. I feel that I understand the activity and that it is not suspicious. However, as this is my first tax season as BSA Officer here is my question - is this typical? OR is this something that is unique to "small town USA" markets where people rush to the Bank to get cash after they get tax refunds and then rush out to buy used cars with that cash? I'm trying to get a feel for future planning purposes.
Thanks in advance.