Latest Operations - Operations Topics

Guardianship accounts and risk

01/24/2021

Do we have to get the court order when we open a guardianship account?

How can verbal safety and security statements get us in trouble?

01/24/2021

If an employee tells a box renter that our vault is waterproof, does this create liability?

OFAC Sanctions under a 1917 law

01/24/2021

What is the only OFAC Sanctions program that is still active under the authorities of “The Trading With the Enemy Act of 1917 (TWEA - 50 U.S.C. 4301-4341 )“?

SARs and National Security Letters

01/24/2021

If we receive a national security letter, do we have a SAR?

PODs on businesses?

01/24/2021

Can you put a POD on a business account?

Do you have to have a TIN?

01/24/2021

Can we open an account without a TIN?

Adoptions and IRAs? Learn more.

01/17/2021

Is adoption an exception to the 10% penalty for early withdrawal of an IRA?

Has anyone ever been accidentally locked inside a safe deposit vault?

01/17/2021

Did a bank President, a dog and an 18 month old baby ever get locked inside a vault?

Target of Sectoral Sanctions Order

01/17/2021

The US sanctions that were implemented by E.O. 13622 commonly referred to as “Sectoral Sanctions Identification Lists” arguably had the most bi-lateral international support of any US sanction program at that time (2014). What country was specifically targeted by these very complex sanctions and why?

Grand jury Subpoenas and SARs

01/17/2021

Should we file a SAR if we get a grand jury subpoena?