05/01/2007
FinCEN has reviewed recent calls received on its Regulatory Helpline 15 for the most frequently asked questions about suspicious activity reporting.
05/01/2007
In 2006, a Federal grand jury indicted several businesses and individuals, including mortgage brokers, on numerous charges of mail fraud, bank fraud, conspiracy to commit mail, wire and bank fraud
10/02/2006
We feel that our network is very secure against attacks that originate on the Internet. Are there other areas about which we should be concerned?
10/02/2006
In the past, we sent mortgage loan closing documents to the title company via the internet. We stopped this practice because we feel that without having a secured e-mail line, and without encrypting the data, we would be in violation of GLB. Same with sending our Good Faith Estimates, or other disclosures. We stopped sending via e-mail to customers because of GLB issues. Are we correct in that it would be a violation of GLB to send non-public financial information electronically over a non-secure line?
09/04/2006
Would we meet the multifactor authentication requirements by adding a second password requirement to the logon page of internet banking?
08/14/2006
We feel that our network is very secure against attacks that originate on the Internet. Are there other areas about which we should be concerned?
08/14/2006
In the past, we sent mortgage loan closing documents to the title company via the internet. We stopped this practice because we feel that without having a secured e-mail line, and without encrypting the data, we would be in violation of GLB. Same with sending our Good Faith Estimates, or other disclosures. We stopped sending via e-mail to customers because of GLB issues. Are we correct in that it would be a violation of GLB to send non-public financial information electronically over a non-secure line?
07/31/2006
One of our customers recently wired $4,901 to Chase Bank in Chicago for a vehicle purchased on eBay. Chase's fraud investigation found the account was opened with a false or stolen identity and the total case amount is approx $50K. Since the case is through the internet and involves domestic and international victims the police have ceased their investigation. The amount of our customer transaction is less than the SAR reporting threshold, however with the knowledge of the total case amount would we be required to file a SAR?
05/15/2006
We are considering making loans via the internet. I know CIP and internet security need to be arduous. What other considerations and compliance issues are there?
05/01/2006
FinCEN conducted research on SARs filed by depository institutions reporting mortgage loan fraud as the violation (in whole or in part).