Latest Security - Check Presentment Topics

Stolen Check w/Stop Payment Presented-Procedure

11/15/2015

Our customer reported checks stolen on their account. They filled out the necessary forms, and we placed an alert on their account regarding the stolen checks and check sequence numbers and placed stop payments on the stolen checks. The following day, one of the stolen checks was presented for cash. However, the teller told the person we could not cash it because there had been a stop payment placed on the check. She did NOT give the check back to the person, but she did let the person leave the bank. Was it the bank's responsibility to call the police while the person was still there or should we have just contacted our customer and let them handle the matter with the police department?

"Acct Closed at Customer's Request Due to forgery"?

11/15/2015

We have an account that has been closed for several years due to the account being compromised. We recently have had some checks come through our cash letter and want to know the best reason to provide for returning them. I don't want to return them as forgeries because I do not have an affidavit signed by the customer. Is there a reason of "account closed at customer's request due to forgery"? Our processor says they can not use this reason.

"Counterfeit Check Stamp" At Teller Line

10/18/2015

Are you aware of any bank using a "Counterfeit Check Stamp" for the purpose of stamping a check at the time of presentment at the teller line?

UCC Ping Pong - Who Wins?

05/08/2003

by Sam Ott and Mary Beth Guard, BOL Gurus

Statistics, Facts, & Such

07/01/1999

An American Bank Association study shows check fraud losses increasing at 19% per year.
www.ECCHO.com, 6/12/99

Same-day Settlement A Security Problem Too

01/01/1994

Security and compliance officers need to work together implementing the new Same-Day Settlement rule that went into effect on January 3, 1994.

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RDIC: Solving One Paper Check Problem - Creating Another

Guest Columnist: Jodi Pratt

Where to hold your interviews

01/19/2020

I am the security officer of my bank. We had a problem concerning large cash shortages at one of our branches. When I asked operations to have one person sent to me at a time they refused. They told me they didn’t have time to play games because they were short staffed. I would have to go to the branch to question staff members.

Updating a Business Continuity Management Program

01/19/2020

Should I update my BC Management Program based on the new booklet?

The FFIEC Business Continuity Management booklet

01/12/2020

Are there significant changes to the booklet?

Understanding baseline behavior

01/12/2020

While attending a class on interviews the instructor kept discussing the baseline. The instructor never defined what is a baseline?

Violation of Reg for a Third Time

01/12/2020

When a customer violates Regulation D a third time in a 12-month period, how do most other banks prevent the customer from just opening another savings account to possibly continue excessive transactions? If a Reg D policy is established to prevent multiple savings account opening over a period of time, how do banks monitor such activity among their various branch locations?

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