Latest Security - Record Keeping Topics

Cashier's Check Payable to Treasury-CTR?

07/02/2012

If an IRS Special Agent purchases a cashier's check payable to the Department of Treasury with more than $10,000 in cash, is a CTR required?

CIP Verification Checklist - Commercial Borrowers

02/02/2009

We normally take a copy of the driver's license of a new commercial borrower and put in the file for CIP purposes. We are now being told that we need to complete a CIP verification checklist and have that in the file also. Is the checklist necessary and if so, can you direct me to the regulation?

Red Flags and BSA/AML programs involve twelve critical functions, do you know what they are?

09/22/2008

Question: We know that there is overlap between Red Flags and BSA/AML but what are the common functions?

Monetary Instrument Sales Form and Log

02/05/2007

If we adopt the overall bank policy that we will no longer sell monetary instruments to non-customers, and in addition require our customers to deposit cash into their accounts and then debit their accounts for official check purchases, will we still have to keep the Monetary Instrument Sales Form and Log? Can we adopt this policy and pass our examinations?

Record Keeping of OFAC Screen Prints

01/23/2006

At our bank we have to do screen prints of when we do OFAC checks. How long do you advise that we hold these copies for?

Photocopying or Logging Bait Money

09/01/2005

Question: We have been photocopying bait money for record keeping purposes for many years at my old small bank.

BSA Record Keeping Requirements on Loans

08/01/2005

BSA regulations (31 CFR 103.33(a)) require records to be maintained of all extensions of credit over $10,000 not secured by real property. One of the items that must be retained is the loan purpose. How specific must the purpose be? For instance, is it adequate to record the loans as: passbook loan, business line of credit, etc.?

Patriot Act - Two Forms of ID to Open Account?

05/02/2005

Is the bank required to have 2 forms of identification to open an account? Our Compliance Officer says it is the legal requirement of the Patriot Act, however I cannot find where it is required, only recommended.

Disposal of Credit Report Information

10/01/2004

One of the FACT Act's new requirements is that creditors dispose of information obtained in a credit report in a timely fashion.

Hats Off!

01/01/2001

by Barbara E. Hurst, Editor

It's the beginning of a brand new year and I'm going to take time out to pat a few of you on the back.
Here's a toast to:

Vendor Guru Q&A - Security

Cyber Fraud Hits Record $16.6Bn: Fortify Your Defenses Now!

Proactive Protection: Readiness and Resources for Crisis Response

Deepfake Deception: The New Face of Financial Fraud

Bitcoin ATMs: The Rise, the Fall, the Risks

Staying ahead of check fraud during tax season

Weathering the Storm: Disaster-Proof Your Operations

Counterfeit Cards are Still in Play in the U.S. Banking Arena

Internal Intrusions: Safeguarding Against Employee Fraud and Data Theft

Keeping Up With the Fraudsters

Telephones in Vaults

Cyber Fraud Hits Record $16.6Bn: Fortify Your Defenses Now!

04/27/2025

The American Red Cross conducts its annual Sound the Alarm event between late April and mid-May to raise awareness of the importance of working smoke alarms in the home to save lives.

Deepfake Deception: The New Face of Financial Fraud

04/20/2025

As financial institutions accelerate their digital transformation, an increasingly sophisticated threat has taken on the new face of financial fraud: deepfake technology.

Proactive Protection: Readiness and Resources for Crisis Response

04/20/2025

On April 10, 2025, in the city of Louisville, KY, communities gathered for StoryFest - a celebration of resilience and healing through storytelling.

Bitcoin ATMs: The Rise, the Fall, the Risks

04/13/2025

The increased attention on cryptocurrency since President Trump returned to the White House is shining the spotlight on Bitcoin ATMs as part of the broader crypto ecosystem.

Staying ahead of check fraud during tax season

04/06/2025

How can IQA and IUA, combined with AI technologies, support fraud prevention?

Latest Security - Record Keeping Topics

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