Vendor Guru Q&A - Security

Restricting Access to Employee Account Info

Latest Security - Anti-Money Laundering Topics

What a BSA Officer Should Be Doing Now.

06/03/2002

Just what should I as BSA officer be doing right now in light of the USA Patriot Act? I've gotten bits and pieces but nothing I consider real definitive.

AML Policy Requirement

05/06/2002

What agency requires state banks to have an Anti-Money Laundering Policy in place by April 24, 2002?

The Bush administration has unveiled a new strategy against money laundering, targeting big illicit operations that could be used by terrorist groups. How will the emphasis on money laundering implications affect community banks on a state and local level?

AML Program vs. BSA Program

04/01/2002

I understand that effective 4/24/02 each financial institution has to establish an Anti-Money Laundering program.Isn't the BSA Policy the same or does it have to be a separate Policy?

No Shortcuts for Updating BSA Policy

04/01/2002

There is so much information and so little time to read. I am under the impression that there are quite a few changes that need to be made to our current BSA Policy, e.g. High Risk Assessment Accounts, Patriot Act, etc. The last time our policy was updated was March of 2001.

PATRIOT Act Reporting Compliance: 120 Business Hours or Actual Hours

03/04/2002

I understand one of the provisions of the USA PATRIOT Act requires covered financial institutions to produce records relating to its anti-money laundering compliance within 120 hours of request. Is this 120 actual hours or businesss hours.

Money Laundering Contact Person

01/07/2002

The Uniting and Strengthening America Act recently signed by President Bush requires institutions to name one contact person on money laundering and also requires institutions to establish anti-money laundering programs. My question is, are regulators going to be looking for a specific money laundering policy or will its inclusion in our BSA policy be sufficient?

Banking Community Pledges Help In Fight Against Terrorism

10/01/2001

All bankers in all organizations are banding together to "vigorously support any effective measures that will help dry up the funds that terrorists depend on", as was included in a joint statement

Bankers' Hotline Friend Moves on

05/01/2001

We have been fortunate to count among our watch-dog supporters in Washington, Richard Small, who is considered to be the top anti-money laundering official in the government.

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M-banking Needs New Structure, Companies Say

Several major mobile phone companies have called for changes in the regulatory system to encourage, rather than discourage, the use of mobile phones for payments in developing countries.

Wire transfer fraud insurance changes!

05/12/2019

Have there been any recent changes to wire transfer fraud insurance that we should be aware of?

State law and wire fraud liability

05/05/2019

If we are doing everything recommended by the FFIEC, is our bank safe from loss if a fraud does occur?

Wire contracts vs. bank actions

04/28/2019

Our wire transfer contract with business customers states that they are responsible for any fraud losses. Will this protect our bank?

Releasing photographs to anyone

03/03/2019

I am currently dealing with an issue where my assistant branch manager provided a customer with images from our system that were related to a fender bender in our parking lot that involved another bank customer. She did not obtain approval from anyone to provide this information to our customer and as the security officer I would have kindly refused my customer's request. This incident has brought up the fact that perhaps we should have guidelines for our camera system users to adhere to in order to prevent future incidents like this. Do you know of any institutions that have a policy or procedures for their security camera system (CCTV)? If so, can you share it with me or give me some guidance?

Does your security vendor know the right answer?

02/24/2019

"What is the recommended schedule for the self-testing of your alarm system's communication to the monitoring center (i.e. landlines and/or cell back up)? The alarm system vendors seem to be all over the place on it."

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