Most Popular Operations Content
Protecting Customers from Themselves
03/24/2024
We have a customer that is falling for the "publishers clearing house, you won a million dollars" scam and is wanting to send these people $15,000. We have tried to explain to her that it is not real, and she just gets agitated. We talked her out of getting a cashier's check but now the customer has written the scammer a personal check for $15,000. Do we as a bank have a right to place stop payment on this? Can or should we get the police involved? Is there anything to stop this lady from being taken advantage of?
Document management and collateral perfection
03/24/2024
How is collateral perfection impacted by a financial institution’s document management practices?
Check washing fraudulent activity
03/24/2024
What does “check washing” mean?
Written statements and unauthorized ACH debits
03/24/2024
When can we require a customer to provide a WSUD?
Categorizing risk levels
03/24/2024
Does our current system of vendor due diligence risk ratings need to be more detailed or are we good to just have a 3-tiered risk rating category like High, Medium and Low?