Skip to content

Customer Frequently Changes His Address

Answered by: 

We have a customer that changes his address at least once a month, and he did it twice in one month this past time. What do you think he might be up to? Frequent address change requests are suspicious, but what do you think he could be trying to accomplish or hide?

This is very suspicious and not normal customer activity. The first step you need to take is to contact your Bank Secrecy Act Department or Compliance Officer and share all available information concerning this activity. Based on thier review of the account, it might be necessary for you to talk to this customer and ask some basic questions in order to understand his reason for changing addresses so frequently. It is possible the customer is running a scam and trying to avoid upset customers by relocating -- either way this account should be reviewed immediately.

First published on 7/03/06

First published on 07/03/2006

Filed under: 
Filed under compliance as: 
Filed under security as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics