Two bank technology customers have combined their technologies to offer banks and other financial institutions the capability of creating check and cash images at the first point of deposit for man
The American Bankers Association and the American Bar Association recently held their 14th annual Money Laundering Enforcement Seminar.
What is a positive pay system?
We have a customer who primarily uses the internet and wants to stop his paper statement. We don't offer the electronic statements yet, but is there something prohibiting us from canceling his monthly paper statement?
I understand that E-Sign states that web transactions must be similarly authenticated using a electronic signatures. Electronic signatures include, but are not limited to, digital signatures and security codes. In the case of security codes, will the use of one-time password that is used for the particular user session suffice? The user is prompted to provide a one-time password at the beginning of the session, and once again just before submitting the payment (or debit in the case of NACHA).
What insurance issues should we consider relative to e-banking?
As possible security intrusions increasingly pose a threat to online banking, we have "enhanced" our PIN change requirements for our customers. We would like to do a mailing to our customers talking about Internet Banking security for our customers, we believe a "3rd party" brochure or marketing piece may have more effect or at least back up our reasons for increased security levels. Do you know of any good articles or brochures we could pass along to our customers? The only piece I've been able to find so far is "Tips for Safe Banking Over the Internet" by the FDIC. However, the portion that talks about PIN number security is very brief.
We have a message posted on our Web site that tells customers not to submit emails that contain sensitive or confidential information and that tells them not to use email for specific transaction-related requests. Our system gives us the capability of doing auto-responders to any email submitted. We have drafted an auto-responder that thanks the sender for their message, acknowledges that it was received, but basically reiterates our policy about how they shouldn't be sending confidential or sensitive information or anything about a specific transaction or account. It has been suggested that we might want to add something to it to say something like "We will not act upon email requests for funds transfers, stop payments, account closings, or fraud notifications. These must be done either in person, or by calling such and such number." I'd like to know whether you think this is a good approach or whether there's a better way to handle this. We almost considered not even posting an email address on our site at all to just stop the email.
We have an elderly customer who has a caregiver. One of the duties of the caregiver is to help the customer write checks for monthly bills. Recently, we've been concerned that the caregiver is perhaps helping herself, rather than helping the customer, because some of the checks are larger than normal and others are made out to payees that would be unusual for our depositor. We've tried talking with the customer, because we're alarmed at her rapidly decreasing balance, but she does not appear to be able or willing to stop the misuse of her funds. The customer has signed each item, but we still feel awful paying them because we believe she's being taken advantage of.The customer's grown children live out of state. We're tempted to call one of them to discuss the situation, but we can't do so because of financial privacy constraints. Any other suggestions?
We recently have experienced a large number of check fraud situations where fraudulent items were passed over the teller lines. We ask for two forms of photo identification but still have problems. Is there any new technology you would suggest we consider?