Most Popular Operations Content
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?
BOI does it require annual reporting?
03/24/2024
Is there a requirement to annually report beneficial ownership information?
W-9s on IOLTAs
03/24/2024
Can you please advise if IOLTA sub accounts needs to have W-9 signed by the attorney's client, considering the interest goes to the state of bar association (at least here in NJ).
Is a DBA certificate required?
03/24/2024
Is a DBA (Doing Business As) certificate a requirement for CIP purposes? In Arkansas, it is required that a DBA certificate is on file with the county clerk for businesses.
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?