Vendor Guru Q&A - Security

Restricting Access to Employee Account Info

Latest Security - ACH Topics

ACH Reversals

04/23/2017

One of our customers had an account takeover. We called the RDFIs and sent reversals, but we got them all back unpaid. What happened?

Customer purchasing Bitcoin

10/16/2016

Why would my customer be making repeated purchases of Bitcoin?

Re-route an ACH Credit: Closed Account

12/12/2015

Can we re-route an ACH credit coming into a closed account to the customer’s loan account if their DDA is closed?

Administrator for Business Online Banking

04/15/2013

When setting up businesses for online banking, ACH, and remote deposit capture, does the bank maintain control over users of the business or do they set up an administrator for the business for them to maintain?

Cannot Find Source of Funds-Close Account?

09/24/2012

The husband of a long time customer of the bank, is using her account to deposit large dollars in postal money orders, cash, his social security check and wires for services he provides. The money is then Paypal'd out. We have no idea of the source of these funds. Her paycheck is an ACH not in questions. We have been filing SAR's for a year. Should we leave the account open?

Debt Collection Firm and ACH Loss-Liability

12/05/2011

An employee in a company's accounting department pays a personal debt by ACH using the company's business checking account information. The employee is authorized to make ACH's for the company for business purposes only. The debt collection firm accepted the information and originated the ACH to be paid from the business account to the debt collection firm's account. The debt collection firm did not know, nor had they any reason to know, that the account was a business account. The debt collection firm believed the account was the employee's personal account. Who is responsible for the loss if the employee/wrongdoer cannot be located?

Reg P Restrictions on Giving out Account Info

10/10/2011

According to Reg P, a financial institution is not to give out any account information, including account balances and account status. We regularly get calls from other financial institutions, companies like Comdata, and individuals asking if a check or ACH will clear. Are we allowed to give out that information under Reg. P?

ACH Fraud Suits

08/29/2011

I know there have been lawsuits against banks due to fraud involving unauthorized ACH debits on business accounts. What is the status of those suits?

Deposit with an Invalid Account Number

05/02/2011

Can an institution accept a deposit by matching a name or social security number if the account number is invalid?

Handling Social Security Check Upon Death

04/25/2011

When a customer dies who is receiving a social security check in the middle of the month, how do you determine if the deposit needs to be returned?

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STATS

The total volume of all SARs within the Bank Secrecy Act (BSA) database increased by 4% from 2011 to 2012.FinCEN, The SAR Activity Review - By the Numbers (BTN), May 2013

Same Day Payment Processing Coming Soon!

Today's society is all about instant gratification. Same day services are now offered by many businesses.

Social Media Strikes

08/18/2019

I had a question regarding our website. We were wondering if we should have "Officer's" names on the website for each branch. I've kind of struggled with this one because they've been on there a long time and it seems most other banks have some staff on their sites, but is that opening us up to risks?

I saw the robber in the store!

08/11/2019

I am a security officer for a financial institution. We had a robbery where a gun was shown to the victim teller. Today she entered my office to tell me that she saw the robber last night in a local store. Did she or didn’t she? How should I proceed?

Handling the Aftermath of a Critical Incident

08/04/2019

I am working next to a man who told me he purchased a new gun. He was talking about how much fun it would be to chase the CEO across the parking lot. Two years ago, he survived an active shooter incident.

Handling the Aftermath of a Critical Incident

07/28/2019

What is happening to Sarah? She was always so friendly! The last two months she has been a bear to work around. Today Sam said his dog had died, and she told him to “suck it up!”

Business Man deposits a large check

06/16/2019

A local business owner posted this on a social media website. “ As a business account I was told by the teller not to come in just before closing as the teller had too much to do at closing time.” What should we do now?

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Security Training View All

11/05/2019 to 11/06/2019

2019 Lending Compliance Triage

03/03/2020 to 03/04/2020

2020 BSA/AML Top Gun Conference

Scottsdale, AZ

Deception for Dollars: Social engineering your staff and Call Center

This fast-moving program on preventing losses will focus on the information identity thieves have before they call you when trying to obtain information or financial rewards. This webinar will discuss actual attacks used against financial institutions.

Detecting and Mitigating Skimming Fraud Losses

How do you reduce skimming-related losses? By having properly trained frontline staff members who know what to look for to detect and mitigate skimming fraud losses.

Beginning Security Officers - Steps for Success

You'll learn about the foundations of a successful security program, including building a security team, communicating with management and board members, working with law enforcement and peers, and much more!