How safe is a free-standing teller pod that is being used as a manned teller station with a cash recycler rather than the typical teller line construction?
Can a Power of Attorney designate POD for a social security representative payee account?
In the past, we have allowed grandparents to open savings accounts for their grandchildren with the grandchildren being the primary owners and the grandparents as secondary. They would have the child's social security number. They would sign the child's name,(child is unable to sign due to age). Relative to CIP purposes can this still be done?
Regarding OFAC, if an account has been blocked due to a possible SDN match for a POD beneficiary, but the primary has been cleared, can the bank allow the primary to open a new account for himself, so that he may deposit funds while the POD beneficiary clears his name with the US Treasury OFAC division?
A Suspicious Activity Report detailing more than $4.6 million worth of fraudulent activity associated with electronics sales over the Internet prompted a SAR review team to initiate a case on a sub
A customer opened an individually owned CD and listed a beneficiary. The CD was opened with $13,000 in cash, so we will file a CTR. Does the CTR have to include the beneficiary?
When a loan is secured by a certificate of deposit held by the same organization should all names listed on the certificate sign the assignment if the C or D states "or" instead of "and"?
When opening an account with a POD, do we need the POD's Social Security Number?
We have a customer who deposited $13,000.00 cash into his individual account which is P.O.D. to 2 additional persons. Are the P.O.D. persons to be listed on the CTR?
Once an account holder is deceased on a POD account, does OFAC need to be run on the beneficiaries before funds are transferred to the beneficiaries?