A new CSR opened an account and let the customer do all kinds of weird things with Pay on Death beneficiary designations that aren’t legal in our state. Now what?
We have a customer who is a level three lecher. He ogles the female tellers and makes lewd comments about them and to them. Please tell us we can offload him.
How do you find the guidance that applies when there is no regulation?
Can a single-member LLC use an SSN?
Do we have to update our W-8BENs?
The following Preview Question from a Learning Connect webinar for the 6-21-16 "Currency Transaction Report Annual Training for the Frontline." This does not appear to match the information from the BOL Compliance Q & A "Report $300 Currency Exchange on CTR?" dated 5-13-13. Your thoughts?
P R E V I E W Q U E S T I O N
Q: We had a customer come into the bank and purchase a cashier's check. He brought in $17,750.00 in cash. The cashier's check was made for $17,725.19, he paid a fee of $3.00 and received $21.81 back in cash. The CTR really doesn't give you a place to put the cash back on the cash in side of the sheet. How would you fill out the sheet so it will balance at the bottom?
A: You would only put on the person's page $17,729 (equals the $17,725.19, rounded up, plus the $3.00 fee). Plus on the cash page $17,729 for the Negotiable Instrument purchased and nothing else needs to be listed.
A DBA account owner withdrew over $10,000. The account is under the owner's Social Security number. The tellers said the transaction was for personal use. Do we include the DBA information on the CTR?
A customer asked me what to do with $13,000 in cash. What is the conversation I should have with the customer?
Do we have to risk rate every consumer account?
I have a BSA question about Phase I exempt customers. I know that Phase II customers' savings accounts can't be exempted, but what about Phase I customer savings accounts? At my institution we have a government entity but they only hold savings accounts with us. Would they still be considered Phase I exempt in our institution at all? And if so, would we have to perform a yearly review on them?