I read some comments regarding bait money on the BOL web site. I agree with the logic, but I have another question. It was stated that we should replace one security measure with another (for example, trade the bait money for better cameras). Are there any statistics on how helpful the other measures are in preventing bank robbers or in catching them? Do you know where I can get such statistics?
We recently had ACH training and found out that according to NACHA rules, we were doing stop payments incorrectly for ACH items. Are the NACHA rules the only governing force for ACH transactions, or is there some overlap with Reg E? Before we change our internal policy we want to be sure that strictly going by NACHA rules won't have us violating Reg E.
Our bank is rewriting our security policy/procedures. Basically, we are starting from ground zero and now have a Security Director who will oversee the security program for the bank. Do you have any reference material or pointers on whow to begin building this department?
Commonly cited violations have long been a source of important information for the design and management of compliance programs.
As it relates to IT examinations, what are the top "hot buttons" for regulators?
Our Lost/Stolen Check card transactions are increasing. Our current interpretation of Reg-E, is that the Issuer accepts all liability for these transactions, without the right to insist on Affidavits or Police Reports from the consumer. It also appears the Issuer has no rights under Reg-E to question any customer's claims that the transactions are not theirs (due to a lost/stolen check card), even if the story does not add up. Is this the correct interpretation? What are other Institutions doing with Lost/Stolen card transactions? Are they simply taking the losses and moving forward? Do you have any suggestions on technology or techniques that are working for other institutions to help reduce losses due to lost/stolen check card activity?
Several studies by the Woodstock Institute underscore an important role community development banks play in the financial institutions industry: serving the "underserved."
The American Bankers Association and the American Bar Association recently held their 14th annual Money Laundering Enforcement Seminar.
I've worked on several system conversions, and learned a thing or two, however, I'm looking for recommendations "things to do" or "things learned" from a perspective. Does anyone have any tips to share?
With so much hype about getting the latest technologies in place to protect systems and networks, what is the real value in getting the right technology in place versus a focus on policies and procedures?