I’m worried about data loss and how it could affect my bank. Should we be concerned?
Is OFAC training a required course for our board of directors annually?
What is the proper way of reporting the beneficiaries of the following cash in deposits in a CTR. The TIN number for all is the same #11-1111111. XYZ Corporation (6 accounts*) $11100 XYZ Corporation dba Café,LLC (Acct 9999) $1000 XYZ Corporation dba Bake LLC (Acct 888) $600 * There is no dba in the title of the 6 accounts. Do I need to report 3 beneficiaries to show the actual amount of cash deposited to the accounts? Is it okay to report XYZ Corp dba Café LLC (6 accounts including acct #9999) $12100 and XYZ Corp dba Bake LLC (acct #888) $600?
When a customer notifies us of a potential fraudulent activities on their account, we place the account on a "restricted" status (any debits trying to hit will reject and have to be worked manually) for a maximum of 90 days. Is it safe to remove the restricted status if no fraudulent activities occur? What would be the best way to handle day 91?
Are there any compliance issues with regards to a change of address on a commercial loan. i.e authorized signers on change of address form, verbally submit a change with no written signature obtained?