What is the best way to handle members' accounts with claims of lost VCC/PINs, with "mysterious" deposits and withdrawals. The checks are made payable to the customer with the account numbers on the back, but the customer claims to know nothing about it.
What is your opinion on the risks associated with allowing consumers (individuals or non-businesses) to use remote deposit capture services?
Is accidentally exposing the incorrect check images to customers via online banking considered a reportable event for information security and privacy purposes? I am thinking that it is, since users can save the images to their desktop or other device. The check images are not images of the online banking user's checks, but of other customers' checks that contain bank account number, name, address and a signature.
I have three checks cashed from three different people, all on the same banking day. Added together they are over $10,000.00. Do I put their information in Part 1 of Section A or Section B? Since one of the checks was for $600.00, I didn't get a SSN; do I leave it blank?
Today, 10/6/10, we received multiple checks returned to our bank. They were all from one account at the paying bank, dated June through September. They were returned as forged signatures. I believe the liability falls on the paying bank, as these were not returned by the midnight deadline. What is the proper way to send these back to the paying bank? Do we do a check adjustment and state untimely return?
When issuing cashier's checks, does the party the check is being issued to have to be checked against OFAC?
Our customer left her purse in a hotel room and evidently someone came in while she was gone. Two checks came through her account with our routing number and her account number, but everything else is fraudulent. I sent a letter to the bank of first deposit, but they deny paying because of the counterfeit law that I must return by midnight after the banking day following presentment. Since the check itself is counterfeit, can I return through FRB as a draft check? If not, do I have other recourses?
What/where does one report insider banking fraud that includes the vice president, producing fraudulent checks with wrong routing numbers, and handing out wrong direct deposit forms?
I have two forged endorsement claims from another FI. It is within the time frame of three years, and appears that the checks, payable to a husband, wife, and a contractor, have a forged signature of the contractor. I actually spoke to the victim/contractor, and he states that at no point were any of these funds were due to him. He filed this claim because the IRS says he owes taxes on this money earned for a job, that he never did! I want to deny the claim (over $12,000), since this seems more of a civil situation, but the facts don't lie. The contractor's signature is forged. What do I do?
I work in the BSA Department. My bank was just acquired by another bank and we found a customer of theirs who runs a factoring company under his personal TIN. His activity consists of depositing checks payable to other businesses (in the week period I have access to - databases not merged yet - the checks range from $25 to $12,500) and withdrawing cash (about $250,000/month) to pay his clients. From what I can tell, based on online research, the debtor businesses should be remitting payment directly to the factor, not the original vendor, and the factor should not be dealing in cash in any way. It appears that he may be acting as an unregistered check casher for businesses. How can I determine if this is the case? Do you agree that he should not be depositing third party business checks?