Activity – Member avoids currency transaction monitoring by depositing cash into multiple accounts, some on which the member is the primary account holder and others as only a joint owner.
Solution – Enhance the BSA monitoring feature to enable account tracking on every account connected to the Social Security number of every member, regardless of classification: Primary Owner or Joint Owner.
Status – In Process: Project sheet #36568 is to be assigned to a programmer and is waiting for resources.
Jim and audit link team — great tips and information on all 10 — thank you — I will explore more and implement several of these. Barb
This is a much-needed tool to ensure all CTRs are filed as required. Looking forward to this one.
This would definitely help in detecting CTR situations that may be more time consuming to research.