Alien Review

Appreciate any feedback - how often does your bank review your alien customers? Do you review both resident and non-resident aliens? Or do you allow your fraud software to alert any suspicious activity?

I assume you do your standard CIP/due diligence at onboarding, right?
As long as that's good, the financial crimes software runs its algorithm on activity. That's all we do. We treat them like every other customer for monitoring purposes.

We do the same as Cl@MBOC - we identify these customers but being identified doesn't elevate their risk or require any scheduled periodic monitoring. Monitoring is done based on alert generation from the standard suspicious activity monitoring process. We don't differentiate between resident and non-resident aliens. We treat them the same.

Would that be RA's or NRA's?

A lot of Banks do not consider RA's as anything different than citizens. Most software that I have seen adds a score for NRA's. Additionally for NRA's that have w-8 that expire in 3 years i have seen some minor additional DD at the 3 year mark.