What are some of the best ways for our customers to protect themselves against ATM crime?
The new Beneficial Ownership rule adds the CDD Fifth Pillar to the AML program requirements for (a) developing a customer risk profile, (b) conducting ongoing monitoring for reporting suspicious transactions and, (c) updating customer information. What CIP procedures should we follow when a business client provides online banking access for an employee who has the authority to initiate transfers or make bill payments?
Our bank requires that all new employees pass a criminal background history check before hiring: however, we understand that temporary employees are not subjected to the same hiring standards. Is this legal?
Are security guards a good deterrent for bank robberies?
More than a few of our branch offices house sales and service teams from other bank departments, such as commercial lending. Should those employees receive annual robbery training?
Which internal control is better for handling cash in branch office ATM vaults - Dual Control/Dual Custody or Dual Presence?
If a financial institution discovers a crime or fraud and wants to notify law enforcement, what if anything is needed before records/documents are turned over to help with the investigation?
With more of our bank customers using mobile payment apps, such as PayPal, Venmo, Zelle, we are concerned about the increase in potential fraud for our customers and our bank. What steps can we take to mitigate real-time payments fraud?
Our branch just started using Teller Cash Recyclers (TCRs). Do they deter criminals? In a robbery situation, what dollar amount should we dispense when the Duress Dispense key is activated? Do you dispense a specific denomination or random bills? Also, how do you handle bait money?
To fill the role of security officer, our bank may at times arbitrarily appoint an employee from a branch location as the branch security officer. This employee could be a teller, a loan officer, a new accounts rep, or a loan officer who has not received any type of security officer training. I am concerned that the bank is putting employees into a position that they don’t really want to be in and are ill-equipped to handle.
I was recently hired as the Senior Security Officer for the entire bank and would like to recommend that the bank discontinue this practice. Is this a normal practice at other banks and, if so, what type of training do you suggest we provide these “newly elected” security officers?